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Semperit secures 57.1% stake in Malaysian medical gloves maker

10 Oct '12

1 min read

Semperit AG Holding acquired 12% of the shares of Malaysian Latexx Partners Berhad in the open market. Including yesterday´s announced share sale agreement with Mr. Low Bok Tek (29.3% of the ordinary shares outstanding and 67.3% of all outstanding warrants) and certain shareholders having entered into put/call option agreements (9.1% of the ordinary shares outstanding and 18.4% of all outstanding warrants) Semperit secured a 57.1% stake in Latexx Partners on a diluted basis of 274.1 million shares (post potential exercise of all warrants).

The success of the takeover is still subject to the conditions of obtaining the approvals of antitrust authorities in Austria and Germany and the regulatory approvals of the Securities Commission Malaysia.

Semperit AG Holding is an internationally oriented corporate group, which develops, produces and markets highly specialised products made of rubber and plastics (examination and surgical gloves, hydraulic and industrial hoses, conveyor belts, escalator handrails, building construction profiles, cable car rings and railway superstructure products) in the Medical and Industrial Business Sectors.

Latexx Partners is the world's sixth largest and one of the leading medical gloves producers in Malaysia.

Semperit AG Holding