Business
Ferd and CVC pull out of race for SIGstevenkiernan, 13 March 2007Be the first to comment on this article Ferd Holding and investment company CVC Capital Partners are ending their campaign to acquire Swiss drinks carton manufacturer SIG Holding, leaving the door wide open for New Zealands Rank Group to complete its purchase. Ferd, the Norwegian owner of Elopak, said it was not willing to raise its offer to a price that could “compromise the business rationale of the transaction”. Ferd will now sell its stake in SIG. Rank has raised its offer to £184 (435CHF) a share, and following recent share acquisitions, is already the largest single stakeholder, with a 22% share. SIG has said it will comment on this latest offer by March 22, 2007, at the latest. Speak Your Mind |
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