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Article: Altadis Closes Balkan Star Deal; Pays Euro 147 Million for 80.75% of the Company.
- Article from:
- Business Wire
- Article date:
- November 4, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS -- On November 4th, Altadis has closed the acquisition of Balkan Star. All required authorisations having been granted, the Group acquired 80.75% of Balkan Star for a consideration of Euro 147 million on a cash free, debt free basis.
The transaction is funded from existing Altadis credit facilities.
Altadis has extended the offer to the minority shareholders holding the remaining 19.25% of the share capital of Balkan Star on the same terms and at the same price per share that is paid to the controlling shareholders. That offer will be closed in December and is expected to bring Altadis shareholding very close to 100%.
Also, the total ...