BEWi ASA (OB:BEWI) completed the acquisition of an additional 9.6% minority stake in IZOBLOK S.A. for PLN 6.1 million.
January 27, 2022
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BEWi ASA (OB:BEWI) made a tender offer to acquire remaining 45.34% stake in IZOBLOK S.A. (WSE:IZB) for PLN 29 million on November 2, 2021. Under the terms of transaction, BEWi ASA will acquire remaining 0.6 million of Izoblok shares for PLN 50.41 per share. BEWi ASA currently owns 54.6% stake in IZOBLOK. If BEWI succeeds in acquiring 100% of the outstanding shares, the company intends to delist the shares in IZOBLOK from trading on the Warsaw Stock Exchange (WSE). A delisting of the shares requires a consent of the Polish Financial Supervision Authority. If BEWI in the tender offer acquires shares that, together with the shares currently held by BEWI in, represent at least 95 per cent of the total number of votes at the General Meeting of IZOBLOK, BEWI intends to conduct a squeeze-out of the shares from the minority shareholders, pursuant to the applicable laws. Tender offer will commence from December 10, 2021 and expected to close on February 2, 2022.
BEWi ASA (OB:BEWI) completed the acquisition of an additional 9.6% minority stake in IZOBLOK S.A. (WSE:IZB) for PLN 6.1 million on January 28, 2022. BEWi received an acceptance for 121,870 shares of IZOBLOK. Post transaction, BEWi holds 64.28% stake in IZOBLOK, corresponding to 73.21% of the voting rights in IZOBLOK. As a result of the tender offer process IZOLBLOK will continue to be a listed company in Poland. Settlement of the transaction is expected on or about February 7, 2022.
Bewi ASA is a Norway-based international provider of packaging, components and insulation solutions. The Companyâs products protect and insulate everything from fish and vegetables to fragile products. They are used in walls, roofs and floors, under streets and roads and in bridges. Bewi ASA operates through four core business segments: RAW, a developer and producer of white and grey expanded polystyrene; Packaging & Components (P&C), a developer and manufacturer of standard and customized packaging solutions and technical components for customers in many industrial sectors; Insulation, a developer and manufacturer of a range of products and solutions for the building and construction industry, including foundations, walls, roofs, and ceilings, and Circular that offers different solutions for waste management and collection of used material, as well as offers a range of recycled materials. BEWI serves a range of end markets, such as pharmaceutical, automotive, and infrastructure.
BEWI ASA 
