Thus, Lactalis will pay a total RON342 million to get all of Albalact.
The public offer for voluntary takeover is initiated for the acquisition of 636 million shares issued by Albalact. The period for the unfolding of the public offer is of 25 working days, from August 10 until September 14.
The French group announced at the end of January 2016 it had signed an agreement with Albalact’s majority owners – the Ciurtin family and private equity firm RC2, which had 70.3% in the dairy producer together. It will soon start talks with minority shareholders to delist Albalact from the Bucharest Stock Exchange.
Albalact group registered a turnover of RON450 million (over EUR100 million) in 2015, calculated under IFRS standards. Under Romanian accounting standards, Albalact had a turnover of RON512 million, being leader on the local dairy market.
Lactalis is a global leader in the dairy processing industry, holding brands such as President and Parmalat. The group has 75,000 employees and over 200 factories, in 43 countries. It registered a turnover of EUR17 billion in 2015.