Lasselsberger Raises Stake in Hungary's Zalakeramia to 93.6%
Friday, July 8, 2005, 08:07
Lasselsberger Holding International GmbH, an Austrian maker of building materials, raised its stake
to 93.6 % in Hungarian tilemaker Zalakeramia Rt. in a buyout offer, it said in a stock exchange statement. Lasselsberger increased its holding from 89.7 percent. It paid 2,350 Ft for the shares offered, valuing Zalakeramia at 12.6 billion Ft. Lasselsberger may pull the stock from the Budapest bourse within weeks if it succeeds in boosting its stake to above 90 % in the offer, business daily Napi Gazdasag said July 4. Zalakeramia's shares fell 5 Ft, or 0.2%, to 2,300 Ft yesterday. Lasselsberger, which first bought into Zalakeramia in 2003, offered to pay the same price for the shares as when it boosted its stake in April 2004 and agreed to buy a 28.04% stake owned by Russia's Gazprombank.