GEORG FISCHER
Aliaxis agrees to share purchase offer / Uponor takeover inches closer
Swiss industrial corporation Georg Fischer (GF, Schaffhausen; www.georgfischer.com) has taken another big step towards its planned takeover of pipe manufacturer Uponor (Vantaa, Finland; www.uponorgroup.com). Uponor shareholder Aliaxis (Brussels; www.aliaxis.com) has now agreed to sell its 20% stake in the Finnish company to Georg Fischer for EUR 418 mn.
The offer period of the Swiss corporation, which intends to strengthen its pipe business GF Piping Systems (Schaffhausen; www.gfps.com) with the acquisition, ends today, 31 October.
The offer period of the Swiss corporation, which intends to strengthen its pipe business GF Piping Systems (Schaffhausen; www.gfps.com) with the acquisition, ends today, 31 October.
 The acquisition of Uponor is intended to expand the company's own pipe business (Photo: GF) |
Aliaxis had made its own efforts to take over Uponor in the spring, but had been repeatedly rebuffed by the Finnish company’s management. Nevertheless, the process has paid off handsomely for Aliaxis. Since the Belgian pipe producer had acquired its Uponor shares at a significantly lower price, it is now raking in a pre-tax profit of EUR 90 mn, including the previous share income.
31.10.2023 Plasteurope.com [253928-0]
Published on 31.10.2023
German version of this article...