Ljubljana, 04 June (STA) - A company associated with Martens Management Group, a private Austrian conglomerate which is already active in Slovenia, published on Monday a takeover intent for chemical company Cinkarna Celje valued at just shy of EUR 180m.
Anatol will offer EUR 220 per share, but the company said the value to shareholders is EUR 246.52 together with the proposed EUR 26.52 dividend that is to be confirmed at Tuesday's AGM.
"This is a premium of 26.1% over the 12-month average stock price," Anatol said in a press release circulated by a Slovenian PR firm.
"The offer is a unique opportunity for existing Cinkarna shareholders ... which is better than in past unsuccessful attempts. It is also a unique opportunity for the company to forge a strategic partnership with a new long-term shareholder," the press release reads.
Anatol plans to publish a takeover bid within 30 days but no sooner than in 10 days. It said KKR, the giant US private equity fund, will help with the financing.
Ralph Martens, the controlling shareholder of Martens Management Group, was quoted as saying that his firm has "a strong vision of the development of Cinkarna as an independent and leading company in Slovenia and in the broader region in this industry."
Martens Management Group already controls the Slovenian manufacturing firm Niko Železniki. One of its affiliates, Ring, meanwhile bought and restructured coatings maker Helios and sold it to Kansai Paint of Japan in 2016.