Pergo to acquire Witex stock. (News).(Pergo AB to acquire all shares in Witex AG from HW Industries GmbH & Co. KG)(Brief Article)
National Floor Trends, March, 2003
Pergo AB and the main shareholder of Witex AG, HW Industries GmbH & Co. KG, have concluded negotiations concerning an acquisition of stock between Pergo and Witex.
Currently, Pergo owns 25.1 percent of Witex AG, while HW Industries owns the remaining shares. Both parties have signed a binding agreement whereby Pergo will acquire all shares in Witex owned by HW Industries.
Pergo will acquire these shares by a directed share issue and a cash consideration. After completion of the transaction, HW Industries will own 20 percent of the shares in Pergo and become its largest shareholder. A total of 13,392,421 new shares will be issued, Pergo states. HW Industries will receive representation on the Board of Directors. The parties estimate that closing will be...
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