BSH Bosch und Siemens Hausgeraete GmbH (Munich) has launched a tender offer to purchase Polish appliance maker Zelmer.
Zelmer announced on Aug. 28, 2012, that it would search for a new strategic investor. BSH signed binding agreements on Nov. 13 with Zelmer to launch, through Polish subsidiary BSH Sprzet Gospodarstwa Domowego Sp. z o.o., a public tender offer to purchase 100% of Zelmer's share capital at PLN 40 per share and with Enterprise Investors to tender their entire 49% interest in Zelmer.
BSH's public tender offer was filed Nov. 14. It is expected to last 70 calendar days from Dec. 4, 2012.
"This acquisition will strengthen BSH's presence in Central and Eastern European countries," said Dr. Ralf Fuchs, Executive Vice President Product Division, Consumer Products Global, BSH Group. "Zelmer's brand name enjoys a high recognition in small domestic appliances and is expected to further accelerate the development of our Consumer Products division."
"The selected investor offers an attractive price per share for current shareholders and will support us in the further development, building upon major strengths of Zelmer such as a strong brand, an efficient production facility in Rogoznica and highly experienced employees," said Janusz Plocica, Zelmer CEO.
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