German injection moulder Balda (Bad Oeynhausen; www.balda.de) has sold its remaining stake in touchscreen manufacturer TPK for a projected EUR 87m. The sale means Balda has completed its goal of ridding itself of all remaining TPK shares, company CEO Dominik Müser explained, adding that the divestiture will become accretive to financial 2012/2013.

Last year Balda had reduced its stake in TPK in two steps from 16.8% to 0.8% – see Plasteurope.com of 10.07.2012. However, as a result of a share dividend, its stake once again rose to about 2%. Media reports indicate that Balda majority shareholder Elector had pressured the company to sell the remaining TPK shares, calling for a divestiture of the loss-making plant in Malaysia as well as a special premium of EUR 54m for shareholders. Elector controls 27.26% of Balda’s shares.

Overall, the sale of TPK shares generated a profit of EUR 475m in 2012 and 2013. Some of the money received by the sale last year went towards the company’s recent purchase of C. Brewer and HK Engineering Plastics – see Plasteurope.com of 03.01.2013.