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EMS succeeds in Axantis takeover

Axantis has been taken over by Christoph Blocher's EMS Chemie group

(Keystone Archive)

Investors in the cellulose group, Axantis, have sold 76.2 per cent of shares in the company to the Swiss chemicals group, EMS Chemie, which is controlled by the right-wing Swiss politician, Christoph Blocher.

EMS declared the public offer successful and said it would publish interim results on the offer on February 6. Its purchase of 814,802 shares gives the Swiss firm control of Axantis.

EMS also extended the offer of SFr330 per share ($202) until February 19 from an original closing date of January 31.

EMS has so far failed to gain control of 140,028 shares, which remain in the hands of Axantis itself.

The Swiss chemicals group first launched the bid on December 4 last year, valuing the cellulose manufacturer at SFr570 million ($350 million).

The surprise move by EMS forced Swiss investors Daniel and Martin Model to drop their hostile SFr310 offer for Axantis.

swissinfo with agencies


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