Superior Industries to bid on 100% Uniwheels shares

German Superior Industries International issued an offer to buy all shares in the WSE-listed alloy wheels producer Uniwheels, the company said in a market filing. “The Company has been notified today by its major shareholder that it has entered into an irrevocable undertaking with Superior Industries International, Inc.  to sell all its shares in the Company representing approximately 61.29 percent of the current outstanding share capital of the Company to Superior Industries International AG, a wholly-owned subsidiary of Superior," Uniwheels said in a market filing. Superior offers PLN 226.5 apiece for the stock owned by the main shareholder (61.3 percent stake) and PLN 235.83 per share for the remaining ones. The offer will go through provided at least 75 percent shares are sold. Subscriptions will start on April 12 and end on May 22. Uniwheels stock was trading at PLN 241.50 per share mid-Thursday. In 2016, Uniwheels had €64.1 million net profit.