Netherlands-based drinks-bottler Refresco has announced that its shares will be delisted from Euronext in Amsterdam on 26 April, following the group's takeover by PAI Partners.
Last month, a consortium of PAI Partners and Cubalibre Holdings, being part of a group led by the British Columbia Investment Management Corporation, acquired 97.4% of Refresco shares.
Since then, during the post-acceptance period, a further 1.6 million Refresco shares were tendered for €20 per share, bringing the consortium's total stake in the drinks bottler to 99.4%.
In October 2017, Refresco announced that it had received an unsolicited proposal from PAI, which would see the French private-equity firm acquire all 81.2 million issued shares in the company for a total cash consideration of around €1.6 million.
The deal received approval from the European Commission, as well as relevant authorities in the US and China, in February of this year.
Rotterdam-based Refresco operates 29 manufacturing facilities in the US and Europe, and posted revenue of €2.27 billion in 2017, up 7.6% compared to the previous year.
The bottling company's CEO Hans Roelofs described 2017 as a "strategically good" year, with the PAI deal representing an "exciting development" for the company.
"With their track record, financial strength and understanding of our business and the beverages industry, the consortium can support Refresco's strategy going forward," Roelofs added. "We are convinced that this is a good transaction for the company and its stakeholders."
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.