Kolal seeks 2.7% more in Eurom

The Kolal BV Group, registered in the Netherlands and controlled by Israeli-born businessman Fredy Robinson, will put out a tender offer worth 1.7 million euros tomorrow to buy a 2.7% stake in Eurom Bank, listed on the RASDAQ market of the Bucharest Stock Exchange. The launch of the tender offer, in view of having Eurom delisted, is part of the takeover of this bank by Bank Leumi, the second-largest bank in Israel. Kolal owns just less than 90% in Eurom, but announced in the tender prospectus that it was acting in concert with two other investors, with the three of them holding 97.3% in the bank. The two investors are the National Union Bloc, which owns 3.76% and Israeli businessman Eliahu Shahar, who owns 3.72%. Once the tender offer has been completed, Kolal will begin the delisting procedures for Eurom, with the shareholders that do not sell while the offer stands being forced to sell their stakes to the majority owner. ZF