Tarkett AG to Acquire Remainder of Sintelon Ad
Backa Palanka, Serbia, October 2, 2006--Tarkett AG placed a bid to acquire the remaining 57% majority stake in Sintelon Ad for YUG7.728 billion (US$118.84 million). Tarkett AG wants to buy 822,138 shares offering YUG9,400 (US$144.55) per Sintelon Ad share. Tarkett AG currently holds a 43% minority stake in Sintelon Ad. The acquisition would allow Tarkett AG to expand its business. Sintelon Ad is Serbia's largest floor covering manufacturer and ended 2005 with YUG720 million in revenue and YUG554.8 million in net profit.
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