MILAN, June 16 Vodafone Global Enterprise
will offer 1.49 euros a share to buy out shareholders in
Cobra Automotive Technologies, in a deal valuing the
Italian auto security systems group at around 145 million euros
Cobra's majority shareholder Intek Group said in a
statement it had agreed to tender its 51.4 percent stake in
Cobra for 74.3 million euros ($101 million).
Shares in Cobra closed on Friday at 0.987 euros each and the
offer price represents a 50.9 percent premium compared to that
Vodafone Global Enterprises aims to gain control of at least
95 percent of Cobra's capital, Intek said.
Vodafone Global Enterprise is part of the Vodafone Group and
specialises in global communications services for multinational
companies. ($1 = 0.7345 Euros)
(Reporting by Valentina Za, editing by Louise Heavens)