Alfa Laval raises stake in Alfa Laval India Ltd and plans to apply for delisting
Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – will buy just over 50 percent of the outstanding minority shares in its subsidiary Alfa Laval India Ltd, and plans to apply for a delisting of the shares from the Bombay Stock Exchange and the National Stock Exchange of India.
The reverse book-building process was closed on February 23rd and the result is that Alfa Laval will acquire 1.03 million shares for INR 4,000 apiece to reach an ownership of 94.5 percent. Reaching that stake, Alfa Laval can submit an application to delist the shares. All remaining public shareholders in Alfa Laval India Ltd will have the option to sell their shares for INR 4,000 per share in the coming 12-month period.
The price of INR 4,000 per share means that Alfa Laval initially will pay approximately SEK 550 million. If all shareholders accept the offer, the total price will reach SEK 1.06 billion.
About Alfa Laval
Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling.
The company’s equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol.
Alfa Laval’s products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications.
Alfa Laval’s worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena.
Alfa Laval is listed on Nasdaq OMX, and, in 2011, posted annual sales of about SEK 28.6 billion (approx. 3.2 billion Euros). The company has today about 16 000 employees.
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