New Zealand Rank Group offered $2.3 billion for Swiss SIG Holding AG

Mar 12, 2007. /Lesprom Network/. New Zealand investment company Rank Group owned by billionaire Graeme Hart offered $2.3 billion for Swiss packaging producer SIG Holding AG. Rank Group is ready to offer SIG shareholders $354.44 per share, RBC-Ukraine reported citing Reuters. In its turn, SIG announced that the decision on the offer of New Zealand investor will be taken in course of eight working days. Earlier Norwegian Elopak announced its intention to buy SIG. The company offered $325.92 per share of SIG. Investments companies CVC Capital Partners and Tito Tettamanti's Sterling Investment Group are also interested in acquisition of the Swiss company. On these announcements shares of SIG were up 12% at the end of European trading session on Friday, March 8. Rank owns 22% of SIG shares, second largest shareholder is CVC – 10.62%.