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Move will allow R2G Holding to Increase Stake in Nonwovens Maker
September 14, 2017
By: Karen McIntyre
Editor
Wood Textiles Holding will not block R2G Rohan Czech’s takeover of Pegas Nonwovens by selling it its 29.98% stake in the nonwovens manufacturer, it said in a statement on Wednesday. Investment firm R2G, the second largest shareholder in Czech-based Pegas with a 10.82% stake, said in July its investment vehicle R2G Rohan Czech would bid 1,010 crowns per share, valuing Prague-listed Pegas at 8.9 billion crowns ($408.35 million). Pegas runs eight production lines at two plants in the Czech Republic as well as one in Egypt. The company announced earlier this year it would establish a manufacturing site in South Africa. The majority of its output targets hygiene applications.
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