Stork NV sells 60% stake in Stork Prints to Bencis Capital
Stork NV and Bencis Capital Partners BV have concluded the sale of 60 per cent stake in Stork Prints to Bencis.
By INDIATIMES NEWS NETWORK |
MUMBAI: Stork NV and Bencis Capital Partners BV have concluded the sale of 60 per cent stake in Stork Prints to Bencis.
“The sale ties in with Stork's objective of achieving greater focus in its activities. The transaction is based on an enterprise value of € 102 million for the whole of Stork Prints,” the company said in a press release.
Stork Prints will continue to operate under its current name and will be supported by Bencis, the existing management will continue to focus on expanding graphic activities whilst maintaining its leadership position in the worldwide textile market.
Stork supplies systems, components and services. Its core activities are aerospace, food systems and technical services. The company achieved a turnover of € 2 billion in 2006.
Bencis is an independent investment company targeting medium sized companies in the Benelux countries. The current portfolio includes chemicals distributor Quaron, sports chain store AktiesportlPerry Sport and the graphic concern Neroc.
Stork Prints BV, which is a subsidiary of Stork N V holds 51 per cent stake in Stovec Industries, which is a listed entity.
On BSE today, Stovec shares ended 2.82 per cent higher at Rs 204.
“The sale ties in with Stork's objective of achieving greater focus in its activities. The transaction is based on an enterprise value of € 102 million for the whole of Stork Prints,” the company said in a press release.
Stork Prints will continue to operate under its current name and will be supported by Bencis, the existing management will continue to focus on expanding graphic activities whilst maintaining its leadership position in the worldwide textile market.
Stork supplies systems, components and services. Its core activities are aerospace, food systems and technical services. The company achieved a turnover of € 2 billion in 2006.
Bencis is an independent investment company targeting medium sized companies in the Benelux countries. The current portfolio includes chemicals distributor Quaron, sports chain store AktiesportlPerry Sport and the graphic concern Neroc.
Stork Prints BV, which is a subsidiary of Stork N V holds 51 per cent stake in Stovec Industries, which is a listed entity.
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On BSE today, Stovec shares ended 2.82 per cent higher at Rs 204.
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