Altana AG (Wesel, Germany) said its electrical insulation materials subsidiary Elantas GmbH will acquire a total stake of 84.3% in Von Roll Holding AG (Breitenbach, Switzerland), said the company.
This follows a share purchase agreement with the Von Finck family and tender agreements with Von Roll Management for the acquisition of an 82.6% stake and as Von Roll Holding holds around 2% of its own shares, Elantas’s stake in the company will reach 84.3%, Altana said.
Meanwhile, Elantas and Von Roll Holding have announced a binding agreement under which Elantas will make a public offer to acquire all publicly held shares of Von Roll Holding for CHF0.86 net per share in cash, Altana said. The offer price corresponds to the purchase price agreed with the Von Finck family for each share and represents a premium of 8.9% over the volume-weighted average price of the last 60 trading days and of 10.3% to the closing price of Von Roll Holding shares on Aug. 10, 2023, according to Altana.
The transaction is expected to be completed in November 2023, Altana said. Subsequently, Von Roll will be delisted from the SIX Swiss Exchange, it said.
We remind, Altana is acquiring the business of TLS Technik GmbH & Co. Spezialpulver KG, an internationally leading manufacturer of metal powders for 3D printing, and thus strategically expanding its ECKART division.
mrchub.com