Preato Capital acquires a majority stake in Yleiselektroniikka for $13m.

Preato Capital, a privately owned investment company, acquires a 51.79% stake in Yleiselektroniikka, a significant component and production equipment suppliers for demanding electronics and communications applications in Finland for $13m. The cash consideration to be offered in the Takeover Bid will be $9.7 per share. The cash consideration includes a premium of 14.47 per cent compared to the closing price of Yleiselektroniikka’s share as of 13 June 2019 on the Helsinki Stock Exchange. Preato Capital will carry out the mandatory takeover bid in accordance with the Finnish Securities Markets Act. Preato Capital aims to develop Yleiselektroniikka and to keep it as a listed company. Preato Capital will propose to the Company’s Board of Directors the convocation of an Extraordinary General Meeting to decide on changes in the composition of the Company’s Board of Directors in accordance with the new ownership structure.