Helios sale in final phase?

The next days will be critical for the destiny of Slovenian paint and lacquer manufacturer Helios, Slovenia's daily Dnevnik has reported.

Namely, aforementioned daily newspaper cites its sources familiar with negotiations as saying that a concensus about most of the issues was reached few days ago in Vienna between the consortium of the state and banks, which holds nearly 73 percent of shares in this chemical company, and Austria's Ring International holding. Now it is time to talk about the purchase price, and the unnamed source believes that everything will be completed by the end of this month. It is also speculated that Ring International has offered about EUR 600 per Helios share, thus valuing the Helios Group at EUR 170 million.

Yesterday's share price on the stock exchange amounted to EUR 511 per, meaning that the company's market cap was at EUR 142.3 million. Let us remind that Slovania's Helios Group is the majority owner of Zvezda-Helios from Gornji Milanovac (ZVHE), so if the parent company is taken over, the new owner will be obligated to announce a takeover bid for Zvezda as well.