Würth Group to launch a public tender offer for TIM shares
Global market leader in the development, production, and sale of fastening and assembly materials, Würth Group, with its Electrical Wholesale business unit, one of the leading electrical wholesalers in Central and Eastern Europe, intends to acquire TIM, the largest distributor of electrical equipment in Poland. The Würth Group intends to launch a public tender offer for all shares of TIM.
Major shareholders including TIM’s CEO Krzysztof Folta have already signed agreements pursuant to which they undertake to tender their shares to the Offer. Following a successful Offer, Würth Group intends to support TIM in its further growth. TIM will become an integral part of Würth Group’s Electrical Wholesale business unit and will continue to operate under the current management team on a standalone basis.
(WBJ)
