B&C Partners With Oberbank to Support Metal Maker AMAG
B&C Industrieholding GmbH, the investment vehicle of an Austrian non-profit foundation, and Oberbank AG (OBS), said they will combine their holdings in AMAG Austria Metall AG (AMAG) to support the aluminum products maker.
B&C and Oberbank will own 35 percent of AMAG after merging their respective 29.99 percent and 5.01 percent stakes, the companies said in separate statements today. B&C said it plans to offer AMAG investors 20.81 euros ($27.28) a share plus their dividend for 2012 as raising its stake to more than 30 percent will trigger a compulsory offer.
The investment vehicle doesn’t intend to acquire all shares and said a “meaningful” number will remain in circulation after its offer, which will probably be made in March or April, according to Vienna-based B&C’s statement.
B&C and Austrian lender Oberbank said they want to support AMAG’s growth as “long-term core investors” and secure AMAG’s facility in the Austrian town of Ranshofen on the German border.
AMAG shares rose 0.1 percent to close at 24.60 euros in Vienna trading.
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