WARSAW, March 23 U.S. aluminium wheel maker
Superior Industries International has launched an offer
to buy Uniwheels for around $715 million after winning
the support of the Warsaw-listed company's biggest shareholder.
Superior Industries said on Thursday it had agreed to buy
the 61.3 stake in Uniwheels held by Uniwheels Holding Malta for
226.50 zlotys per share and was offering 235.83 zlotys each for
the remaining shares - below the current stock price.
Uniwheels shares, which surged 74 percent last year and have
risen around another 17 percent this year, were down 4.8 percent
to 243.6 zlotys at 0945 GMT.
Superior Industries, the largest supplier of aluminium
wheels for light vehicles in North America, said the deal would
create one of the world's largest suppliers of such wheels to
the automotive industry.
Germany-headquartered Uniwheels supplies aluminium
wheels to carmakers including BMW, Mercedes, PSA and Volkswagen.
Uniwheels shareholders can subscribe to sell their shares
between April 12 and May 25. The settlement of the tender offer
is due on May 30.
Uniwheels shares debuted on the Warsaw stock exchange in May
2015 at 105 zlotys apiece in one of the bourse's biggest share
offerings of recent years.
(Reporting by Agnieszka Barteczko; Editing by Mark Potter)