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Superior Industries Int. ups the ante, raises share price in Uniwheels bid

Superior Industries International is now offering PLN 247.87 per share of alloy wheels producer Uniwheels to minority shareholders, having raised the price from PLN 236.07 previously, offer manager DM Handlowy brokerage said in a statement.

The value of the offering has thus increased to ca. PLN 1.19 bln from PLN 1.13 bln, putting the total price for 100% shares of Uniwheels at ca. PLN 2.91 bln.

Superior Industries International is seeking a full 12.4 mln shares of Uniwheels, a 100% stake, and has agreed to buy a 61.29% shareholding or 7.6 mln Uniwheels shares from the lead shareholder at PLN 226.5 per share.

Minority shareholders, who hold some 4.8 mln shares, were initially offered PLN 235.83 per paper, then PLN 236.07.

The bidder will go through with the offer provided at least 9.3 mln shares are tendered.

Subscriptions in the tender offer started on April 12 and run until May 22.

Uniwheels closed on Wednesday at PLN 239.5.

2017-05-18



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