Electroarges moves to completely take over Elars

Newsroom 28/08/2014 | 16:50

Eletroarges, the household appliances producer controlled indirectly by Catalin Chelu, will run a public offer to take over Elars Ramnicu Sarat by acquiring a stake of 2,88 million shares at RON 0,10/share, writes zf.ro.

Eletroarges is offering RON 288,400  for the 12.37 percent of share capital it needs to gain complete control over the company, a well-known producer of screws and other assembly equipment.

The offer will run between September 2 and 22 and will be mediated by Eldainvest, according to a press release.

Catalin Chelu’s group currently controls 87.62 percent of Elars’ shares after purchasing SIF Oltenia’s stake in the screws manufacturer back in June.

 

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