SIF Muntenia (SIF4) will launch a mandatory takeover bid for "Transchim" Bucharest (TRAI), according to a press release sent to the Bucharest Stock Exchange. SIF4 is offering 3.19 million lei for the outstanding 54% of the company (2.5 lei/share, a price equal to the stock"s par value).
The price was set by the bidder and it the highest price in the 12 months prior to the offer. The operation will take place between January 20th - February 9th and will be intermediated by SSIF Broker.
SIF4 controls 45.98% of the shares of the company, and SSIF Broker holds a stake of 18.11%.