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Fotex stake in Domus rises to 99.24% after squeeze-out

Holding company Fotex Rt announced on Thursday it had acquired 9,807 shares in furniture company Domus Rt in a squeeze-out following a public purchase offer.

The squeeze-out ended May 26 and left Fotex with a direct and indirect stake in Domus of 99.24%. Fotex decided at Domus's AGM in March to delist the shares from the stock exchange. In the squeeze-out, Fotex offered Ft 2,250 per share, well over the Ft 1,600-per-share price in the buyout offer, which failed to attract many shareholders. (Fotex boosted its stake at the offer by a slight 1.52% to 58.02%.) Afterward, Fotex indirectly confirmed it had purchased on the stock exchange 28.1% of Domus shares.
Domus had consolidated net losses of Ft 31.9 million on sales of Ft 6.79 billion in 2005, according to preliminary figures calculated with International Financial Reporting Standards. It had consolidated net assets of Ft 3.34 billion at the end of 2005.