RECTICEL
Decision on sale of Bedding division to be made on Christmas Eve / Greiner stands by its purchase offer, extends the acceptance period
Decision under the Christmas tree: the Recticel shareholders will meet on 24 December (Photo: Recticel)
Although polyurethane foam producer Recticel (Brussels / Belgium; www.recticel.com) is continuing determinedly with its large-scale company restructuring programme, “Transforming the Future”, Greiner (Kremsmünster / Austria; www.greiner.at) has now extended the acceptance deadline for its takeover offer, until 7 January 2022. It seems that even the now-finalised sale (see Plasteurope.com of 10.12.2021) of the Engineered Foams division to Carpenter (Richmond, Virginia / USA; www.carpenter.com) has not changed the Austrian company’s intention to take over Recticel.

Related: European competition authorities could subject Recticel takeover to in-depth review

Greiner’s offer of EUR 13.50 per share will apparently still apply if Recticel shrinks to half its current turnover as a result of the sale of the Bedding division. What will remain after the transactions is essentially the business with polyurethane and polyisocyanurate heat insulating sheets (PU/PIR) in the Insulation segment.

Related: Aquinos to buy Recticel’s mattress, bed business

Recticel has scheduled the next extraordinary shareholders meeting on Christmas Eve, of all days, with the only item on the agenda being the sale of the Bedding division to Portuguese company, Aquinos (Tabua / Portugal; www.aquinosgroup.com).
21.12.2021 Plasteurope.com [249250-0]
Published on 21.12.2021
Recticel: Greiner verlängert Angebotsfrist für AktienkaufGerman version of this article...

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