Solvay successful in friendly bid to acquire Specialty Chemicals company Girindus AG
Solvay Organics GmbH announced that it successfully completed its public bid on Girindus AG as shareholders representing a total of 70,43 % of the company's capital accepted the voluntary offer launched last July or have agreed to sell their shares in the context of this transaction. Solvay could further improve its position in the capital of Girindus , as according to German public bid regulations a two-week additional acceptance period - starting on August 25 - is giving the owners of outstanding shares a second opportunity to accept Solvay 's voluntary offer, at EUR 7.00.
Solvay 's offer values Girindus at around EUR 45 million. The relevant competition authorities have cleared the acquisition. The closing of the transaction is expected after the finalization of the bid.
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