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Semperit's Latexx takeover cleared, has 70 percent stake
VIENNA |
VIENNA (Reuters) - Austrian rubber and plastic products maker Semperit (SMPV.VI) has won Austrian and German regulatory approval for its $197 million offer for Malaysian medical glove maker Latexx Partners LATX.KL.
"The acquisition is therefore no longer subject to any conditions precedent and may be completed," Semperit said on Friday, adding it has so far secured a 70.2 percent stake in Latexx.
The acquisition will give Semperit access to Malaysia's glove industry, a world leader due to its access to rubber, and help it move toward planned annual sales of 23 billion gloves by 2015, the company has said.
(Reporting by Michael Shields; Editing by Dan Lalor)
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