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Investment firm R2G Rohan Czech is proceeding with its takeover bid for Pegas Nonwovens at 1,010 crowns per share, valuing the company at 8.9 billion crowns, after Wood Textiles Holding decided not to block the deal.
Wood Textiles Holding has decided to sell its approximately 30% stake in Pegas Nonwovens to Czech investment firm R2G Rohan, accepting a takeover offer valuing the company at 8.9 billion CZK.
Czech investment group R2G announced a tender offer to all shareholders of Pegas Nonwovens at CZK 1,010 per share, an 8% premium. However, primary shareholder Wood Textiles Holding stated it is not considering a sale.