HELSINKI, Finland--(BUSINESS WIRE)--Regulatory News:
On 14 October 2014, Geberit AG (“Geberit”) announced a public offer to the shareholders of Sanitec Corporation (STO:SNTC) (“Sanitec”) to tender all shares in Sanitec to Geberit at a price of SEK 97 in cash per share (the “Offer”). The Offer was declared unconditional by Geberit on 3 February 2015. Geberit has today announced that it has now completed the settlement of the acquisition of 99,080,684 Sanitec shares tendered in the Offer. The said shares correspond to 99.08 per cent of all shares and votes in Sanitec (including the 139,198 treasury shares currently held by Sanitec).
Geberit has furthermore today announced an extended acceptance period, allowing the remaining shareholders of Sanitec to accept the Offer until 2 March 2015 at 5:00 p.m. (CET).
About Sanitec – “Home of the Bathroom”
Sanitec is the leader in bathroom ceramics in Europe. We have a unique portfolio of some of the most well-known brands with deep roots in the European fixtures markets, strategically positioned to address local markets. We care passionately about people’s needs when it comes to complete bathroom concepts, providing products that stand for guaranteed quality, high level of innovation and attractive design. Stable relationships with key stakeholders in the value chain and our unique brand strengths foster our leading position as well as the loyalty and trust amongst our customers, our network of installers and the end users of our products.
Sanitec operates an integrated European group with an unparalleled local presence to provide the best value when it comes to bathroom products. In 2013 net sales amounted to EUR 702 million. Our production network includes 18 production facilities throughout Europe and currently Sanitec employs approximately 6,200 people. Our head office is located in Helsinki, Finland. The shares in Sanitec Corporation are traded on NASDAQ Stockholm under the symbol “SNTC”.
For more information about Sanitec, please visit www.sanitec.com.
This information was brought to you by Cision http://news.cision.com