Key Ducati investors seen holding 85 pct stake
MILAN, June 6 |
MILAN, June 6 (Reuters) - Ducati's DMH.MI three main shareholders will end up owning nearly 85 percent of the Italian motorcycle maker after other shareholders took up their offer to buy them out, according to a statement on Friday.
The three shareholders -- Investindustrial, BS Investimenti and the Hospitals of Ontario Pension Plan -- offered in February to buy the 70 percent of Ducati they did not own at 1.70 euros per share.
By Friday, their offer worth more than 390 million euros had been accepted by holders of a combined 55.2 percent of Ducati, the statement said, increasing their entire holding to 84.7 percent.
Ducati's stock ended virtually flat at 1.66 euros in Milan.
Though the company makes premium bikes whose riders include Australian world champion Casey Stoner, a crisis nearly sent it off the track in 2005. It has since been restructuring its operations aimed at meeting ambitious targets for 2010.
In 2007, Ducati made a net profit of 13.3 million euros on revenue of 397.7 million.
Before the offer was made, Investindustrial, a private equity firm controlled by Italy's Bonomi family, owned 15.6 percent of Ducati, while Hospitals of Ontario Pension Plan had 7.4 percent and BS Investimenti had about 7 percent. (Reporting by Gilles Castonguay; Editing by Braden Reddall)
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