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Announced

Tebesa acquired a 63% stake in Novita for PLN52m.

Financials

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Transaction Value£11m
Consideration Type-
Capital Owned-
Capital Bid For63%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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woven fabrics

Poland

Public

Acquisition

Majority

Friendly

Textile Products

Single Bidder

Synopsis

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Lentex agreed to sell its 63.17% stake in Novita to Tebesa, a subsidiary of Vaporjet, major international non-woven fiber producer. The company undertook to sell the shares as part of a call announced by the buyer on June 7, 2016 to subscribe for sale of 100% of Novity shares for PLN53 per share, i.e. for a total price of PLN83.7m for all shares, and the total price for all shares will be settled as part of the offer.

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