July 11, 2019 / 7:27 PM / 4 months ago

Private equity firm Pai makes formal offer to acquire Dutch Wessanen

AMSTERDAM (Reuters) - A consortium of investors led by European private equity firm Pai Partners SAS on Thursday submitted a formal cash offer for Dutch food maker Koninklijke Wessanen BSWSc.AS valuing the company at roughly 885 million euros ($996 million).

Paris-based Pai first said it intended to acquire the Dutch company in April, and has now received Dutch regulatory approval.

It said its offer, recommended by Wessanen’s board, of 11.36 euros per share for all outstanding shares would run from July 12 to September and was adjusted from 11.50 euros to reflect a dividend pay out of 0,14 cents earlier this year.

Wessanen shares closed at 11.32 euros on Thursday.

Reporting by Anthony Deutsch; Editing by Alexandra Hudson

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