Deals
Greiner Plans Recticel Bid Valuing Firm at $915 Million
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Greiner AG, an Austrian plastics maker, is preparing a takeover offer for Recticel SA valuing the Belgian foam company at about 754 million euros ($915 million), a person with knowledge of the matter said.
Greiner is buying Cie. du Bois Sauvage SA’s 27% stake in the company for 13.50 euros per share and plans to offer the same price to other investors, according to the person, who asked not to be identified because the information is private. The Austrian firm is seeking a majority stake in Recticel and aims to keep its listing on the Euronext Brussels exchange, the person said.