K-Holding with a tender offer for 100% Gekoplast shares

Italian plastic processor K-Holding, through its subsidiary Cristallum 2, placed a tender offer for all Gekoplast shares (over 6 million) at PLN 14.88-15.31 apiece. The lower price tag concerns 73.7 percent stake owned by Capital Partners Investment, while the higher one is for the remaining shares. The bidder will go through with the tender offer provided 66 percent stake is tendered. Subscriptions will run between December 20-September 19. K-Holding is the owner of Karton, Europe’s largest company in the sector, and is hoping for significant synergies between Karton and Gekoplast. If it’s able to secure over 90 percent of the shares it will delist Gekoplast from the WSE.