Public bid for Pannunion shares nearly concluded
All conditions have been met for the closure of a public purchase bid made for the shares of Pannunion, Pannunion said on the Budapest Stock Exchange website late on Thursday.
The competition office gave its approval on October 13, 2011, to Pannunity, an associated business of Sun Capital Partners, obtaining control over Pannunion, the statement said.
Accordingly, the public bid takes effect on October 13.
PannErgy and PannUnion announced on May 16 that Pannunity has made a public bid at HUF 210.32 per share for the shares of PannUnion, and PannErgy is to sell all of its PannUnion shares, representing a 95.3% stake in the company.
Pannunity earlier said it would exercise its purchase right after the competition office procedures have been closed.
The company said earlier this week that the competition offices of three other countries affected had given go-ahead to the transaction.
Pannunion shares are traded in category "B" of the Budapest Stock Exchange.
ADVERTISEMENT
Bourse Turnover Reaches HUF 181 bln in November
India's G20 Presidency, Dawn of New Multilateralism - Narend...
Production Resumes at Ganz's Szolnok Plant
TikTok Commits to Improved Consumer Communication in Hungary
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
