Retailer and holding company Fotex Rt announced on Wednesday it had raised its direct and indirect stake in furniture unit Domus Rt to 98.64%.
Fotex holds a direct stake of 70.5% in the company. Fotex raised its stake in Domus through purchases on the stock exchange following a public buyout offer in January. In the buyout offer, Fotex offered a price of Ft 1,600 compared to the average price of round Ft 1,500 in January, but attracted few shareholders. Its boosted its stake at the offer by a slight 1.52% to 58.02%.
Wednesday's announcement indirectly confirms that Fotex was behind two stock exchange transactions for a combined 458,133 Domus shares, or a 28.1% stake, for Ft 2,235 on February 22.