LJUBLJANA (Reuters) - Luxembourg’s Anatol S.a.r.l. will not announce a takeover bid for Slovenian metal products maker Cinkarna Celje (CICJ.LJ), strategic communication firm Propiar, which represents Anatol, said on Thursday.
“Anatol was not enabled to perform due diligence in time so it will not bid for Cinkarna,” Propiar said.
Anatol had said last week it plans to launch a takeover bid for Cinkarna, adding that it was willing to pay up to 246,52 euros per share, which would value Cinkarna at 200.8 million euros ($237.00 million).
Largest owners of Cinkarna are state companies, which hold about 46 percent of the firm.
Reporting By Marja Novak, Editing by Sherry Jacob-Phillips