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Famur Machinery flexes muscle in a massive buyout

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Listed machinery producer Famur bought 48.93 mln shares of a 65.83% stake in rival Kopex from Famur's majority shareholder TDJ for PLN 204 mln, in line with an earlier announced deal, Famur said in a market filing.

The purchase was conducted at the price of PLN 4.17 per share. The transaction was mostly conducted in block deals on the WSE on June 26 to be realized on June 27.

The deal will be financed from the receipts from issuing 72.97 mln new shares by Famur, sold by TDJ in ABB in early June, the filing reads.

On May 9, Famur said it filed an offer with TDJ for buying 65.83% in Kopex for PLN 204 mln and targets the close by end-June. The buyers intend to split Kopex in two units and offer Kopex' minority shareholders own shares for Kopex' machinery operations with 0.76x parity, Famur said back at the time.

2017-06-27



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