Published: 2017-03-16 07:53:02 CET
Harju Elekter
Company Announcement

AS Harju Elekter accepted a takeover bid for shares of PKC Group Plc

Estonia, 2017-03-16 07:53 CET -- At their meeting of 16 March 2017, the Supervisory Board of AS Harju Elekter decided to accept the offer by Motherson Sumi Systems Limited for the takeover of all the shares of PKC Group Plc at the price of EUR 23.55 per share. AS Harju Elekter owns 1,094,641 shares of PKC Group Plc. If the takeover is realised, it means that AS Harju Elekter will receive 25.8 million euros on 29 March 2017.

Motherson Sumi Systems Limited and PKC Group Plc have on January 19, 2017 entered into a combination agreement under which they agree to combine the wiring harness businesses of Motherson Sumi Systems Limited and PKC Group Plc. The period of the takeover bid is from 6 February 2017 to 21 March 2017.

AS Harju Elekter has been the shareholder of PKC Group Plc since the company’s founding in 1994.

Andres Allikmäe
Managing Director/CEO
+372 6747 400

 

Prepared by:
Moonika Vetevool
Corporate communication and investor relations manager
+372 671 2761