09.14.17
Wood Textiles Holding will not block R2G Rohan Czech’s takeover of Pegas Nonwovens by selling it its 29.98% stake in the nonwovens manufacturer, it said in a statement on Wednesday.
Investment firm R2G, the second largest shareholder in Czech-based Pegas with a 10.82% stake, said in July its investment vehicle R2G Rohan Czech would bid 1,010 crowns per share, valuing Prague-listed Pegas at 8.9 billion crowns ($408.35 million).
Pegas runs eight production lines at two plants in the Czech Republic as well as one in Egypt. The company announced earlier this year it would establish a manufacturing site in South Africa. The majority of its output targets hygiene applications.
Investment firm R2G, the second largest shareholder in Czech-based Pegas with a 10.82% stake, said in July its investment vehicle R2G Rohan Czech would bid 1,010 crowns per share, valuing Prague-listed Pegas at 8.9 billion crowns ($408.35 million).
Pegas runs eight production lines at two plants in the Czech Republic as well as one in Egypt. The company announced earlier this year it would establish a manufacturing site in South Africa. The majority of its output targets hygiene applications.
