AR Packaging Group has offered more than 37% of the share capital of BSC Drukarnia Opakowań in its tender offer purchase. With a stake of 98.17% in the Polish carton converter, AR Packaging aims to fully integrate the company and thereby further strengthen its strategic position in Central and Eastern Europe.
Following the acquisition of rlc packaging, including a major shareholding in BSC — and the BSC shares previously owned by the company’s management — AR Packaging initiated a tender offer for the remaining shares. This process is now finalised and the transaction will be cleared on 3rd April 2020. Having exceeded the 95% threshold in the total number of votes at the general meeting of BSC Drukarnia Opakowań, AR Packaging will now be allowed to conduct a mandatory squeeze-out of the company’s remaining shares.
“As previously announced, we intended to eventually raise our stake in BSC Drukarnia Opakowań to 100%, de-list it and fully integrate its business in our group. I am pleased to see this now being realised and letting us achieve operational synergies and increase the company’s capabilities in an ever more competitive market,” said Harald Schulz, CEO of AR Packaging. “We follow our strategic plan and will with this move become an even stronger partner to our key account customers and in the Central and Eastern European market.”
