Sihold, a financial holding company, completed the acquisition of an additional 34.75% stake in Sioen Industries, a textiles manufacturer, for $435m. “Sioen is ready for the next step in its life cycle. The stock market no longer seems the right platform for Sioen as a medium-sized industrial company with a distinct technical profile. In the near future Sioen has neither the intention nor the need to attract savings from the public to finance its investments. The markets in which Sioen operates are also specialised technical markets. The development and production of new products and the evolution of existing products require continuous investments whose returns are uncertain and will probably be realised over a longer period of time. This requires a dedicated shareholdership with a long-term vision that can agree to a sizeable investment programme. In our view, this is not compatible with the short-term growth requirements of the financial markets," Michele Sioen, Sioen Industries CEO.