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Kingspan Group PLC - Kingscourt, Ireland-based building materials supplier - Says that on Wednesday, Kingspan Holdings Ltd acquired 1.6 million shares in Nordic Waterproofing Holding AB, or 6.8% of the firm’s shares, at SEK160 per share. Prior to this acquisition, Kingspan was already Nordic’s largest shareholder with a holding of 24% of its shares. Following the purchase, it now holds 30.9% of the shares, and has thereby crossed the mandatory bid threshold of 30% of the votes in Nordic Waterproofing.
Under the Takeovers Act, Kingspan must announce that the mandatory bid threshold of 30% of the votes in Nordic Waterproofing has been crossed through the acquisitions. Kingspan intends to, within such period, launch a mandatory public offer for the remaining shares in Nordic Waterproofing at the same price per share as in the acquisitions, SEK160 per share.
Current stock price: €68.80
12-month change: up 23%
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