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ACRON : Acron Group will acquire all of the shares of Azoty Tarnów for which investors submitted sell orders

Acron Group will acquire all of the shares of Azoty Tarnów for which investors submitted sell orders. The exact results of the tender offer will be announced this Thursday, after settlement of the transaction.

 

"First and foremost we would like to thank all of the investors who decided to take part in our tender offer," said Vladimir Kantor, Vice President of the Acron Group. "We believe that our offer was very favourable and provided a large premium over the market valuation."

 

Kantor added: "Upon settlement of the transaction, we will become a minority shareholder of Azoty Tarnów. As we have stated many times, we support the directions for growth of the entire group presented by the management board in its long-term growth strategy, and we are ready to actively participate in implementing it. We are confident that the cooperation between the Azoty Tarnów and Acron groups can generate many business advantages. In particular, we declare our desire for operational cooperation in the supply of raw materials and access to our well-developed logistics infrastructure. We will also support actions by the State Treasury and other shareholders with the aim of increasing the value of the Azoty Tarnów Group."

 

Under the tender offer, investors could subscribe to sell Azoty Tarnów shares until yesterday, 16 July 2012. The price offered in the tender was PLN 45 per share.

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