Austria-based industrial group Semperit SG holding announced that it has completed the acquisition of all the shares and warrants of Mr. Low Bok Tech and other shareholders of the Malaysian glove firm, Latexx Partners Berhad.
Semperit, which focuses on the medical and industrial sectors has secured a stake in Latexx Partners of of more than 83% on a diluted basis of 274.7 million shares (post potential exercise of all warrants) and more than 80% based on an undiluted basis of 222.7 million shares. Semperit’s next step is to start the delisting after the offer period ending November 23 clears out.
According to Thomas Fahnemann, CEO of Semperit Group, the greater stake will not only boost their medium-term target for revenue growth and EBIT margin but also position the company amongst the top players in the industry. (RJA)