Home / Knowledge / News / Textiles / Blackstone owned PGI to acquire Fiberweb
Blackstone owned PGI to acquire Fiberweb
18
Sep '13
Further to Fiberweb’s announcement on 20 August 2013 regarding a possible offer, the Boards of PGI and Fiberweb are pleased to announce that they have reached agreement on the terms of a recommended cash offer by PGI for the entire issued and to be issued ordinary share capital of Fiberweb.
 
Fiberweb Shareholders will be entitled to receive total value of 103.2 pence per Fiberweb Share , which includes the right to receive and retain the Fiberweb Interim Dividend of 1.2 pence per Fiberweb Share.
 
The Acquisition, together with the Fiberweb Interim Dividend, values the entire issued and to be issued ordinary share capital of Fiberweb on a fully diluted basis at approximately £182.5 million, representing a premium of:
 
50% to the average Closing Price of 68.6 pence per Fiberweb Share over the period from 30 December 2011 (being the closing price on the day of completion of the disposal of Fiberweb's hygiene business) up to and including 19 August 2013 (being the last business day prior to Fiberweb's announcement that it had received a revised offer from PGI);
 
44% to the average Closing Price during July 2013 of 71.9 pence per Fiberweb Share; and 38% to the average Closing Price of 74.5 pence per Fiberweb Share over the 90 day period up to and including 19 August 2013 (being the last business day prior to Fiberweb’s announcement that it had received a revised offer from PGI).
 
Click here for more details. 
 

Fiberweb


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X