CVC Capital to Make Forbo Bid in January at the Ea

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CVC Capital to Make Forbo Bid in January at the Ea
Zurich, Switzerland, December 17--UK investment group CVC Capital Partners will not launch an official takeover offer for Swiss flooring materials group Forbo Holding AG before January 2005, Swiss finance magazine Cash said, citing CVC director Heinz Hassler. 'We are still interested in Forbo,' Hassler told the magazine, but added that because of the upcoming holidays, the due diligence will not be completed this year. Last month, Forbo's management agreed to CVC Capital Partners conducting a due diligence assessment, after the group raised its takeover offer to 350-370 sfr per share. The previous offer of 330 sfr per share was rejected by the Swiss flooring material group's board. Forbo also said CVC Partners told Forbo they fundamentally support its strategy of focusing on its three key businesses.