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Fortenova sells agri unit to Podravka for 333 mln euro
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Fortenova sells agri unit to Podravka for 333 mln euro
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Mittal Steel Holdings AG Offers To Pay 155.6 Mln Lei (42.4 Mln Euro) for 64.01% of Romanian Port Operator Comvex

Oct 20, 2008, 3:32:12 PMArticle by Sabina Kotova
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October 20 (SeeNews) - Mittal Steel Holdings AG, a subsidiary of world’s leading steel manufacturer ArcelorMittal, is offering some 155.6 million lei ($57 million/42.2 million euro) for 64.01% of Romanian Black Sea port operator Comvex in a buyout bid, data of the over-the-counter market RASDAQ showed on Monday.

Mittal Steel Holdings AG Offers To Pay 155.6 Mln Lei (42.4 Mln Euro) for 64.01% of Romanian Port Operator Comvex

The offer is valid between October 22 and November 11. Mittal Steel Holdings offered to pay 55 lei per share for some 2.83 million Comvex shares.

ArcelorMittal holds a 35.99% stake in Comvex via Expert Placement Services LTD. Under Romanian legislation, owners of more than 33% of a listed company are required to make a buyout offer to the other shareholders.

Comvex stock last traded at 51.1 lei, down 5.37%, by 0705 GMT on Friday on RASDAQ.

(1 euro = 3.6865 Romanian lei)

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