Turkish industrial conglomerate Yildirim will now launch a mandatory takeover bid for fertilizer producer Rosier – and a squeeze-out offer for the remaining shares – once the acquisition from Borealis has closed.
Borealis has agreed to sell its 98.09% stake in Belgian fertilizer producer Rosier to Turkey’s Yildirim Group. The proposed deal puts an enterprise value of €35 million on Rosier.
Borealis has confirmed its intention to launch a squeeze-out offer for Belgian fertilizer producer Rosier. It already held 77.5% of Rosier and raised its shareholding to 98.09% through a capital increase late last month.
