VIENNA, Austria (Oct. 15, 2012)—Semperit A.G. Holding has secured a 47.3 percent stake in Latexx Partners Berhad from its core shareholders and plans to launch a voluntary conditional cash offer for all outstanding shares and warrants of Latexx Partners.
The move will significantly improve Semperit's position among the world's leading glove producers, the company said.
Assuming a 100 percent takeover of Latexx Partners, the maximum transaction volume will amount to about $197 million. The offer is being made through Semperit Investments Asia Pte. Ltd., a wholly owned subsidiary of Semperit.
The planned acquisition represents a significant step for Semperit to achieve its strategic objective of reaching an annual sales volume of 23 billion gloves by 2015. Latexx Partners has an annual capacity of 9 billion gloves.
Semperit expects to increase its annual glove production capacity from the current level of 12 billion gloves to about 20 billion, the company said.