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BSH offers to buy Zelmer


2012-11-14



BSH Bosch und Siemens Hausgeraete, the largest white goods manufacturer in Europe, has launched a public takeover bid for 100% of shares in Zelmer, a leading Polish maker of small home appliances. Its offer values the WSE-listed company at over PLN 600m (approx. €144m).

The bid will last for 70 calendar days. To succeed, it needs at least 75% of shares in Zelmer to be tendered within that period.

In August Zelmer said it was sounding out potential buyers and expected to be acquired by an international company within several months. The group is in the middle of developing a new strategy for 2014-2016, and introducing a strategic investor is seen as central to maintaining the current growth momentum in the years ahead.

Zelmer’s largest shareholder, is Enterprise Investors, the PE group, which is nearing the end of its investment period.



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