Recticel has conducted a fairness opinion regarding Greiner’s public takeover bid

The board of directors of Recticel has received a fairness opinion in light of the unsolicited voluntary public takeover bid launched by Greiner.

Recticel is a listed Belgium-based company engaged in the manufacture of polyurethane foam products. The company operates in three business segments: insulation, which includes laminated boards for thermal building insulation; bedding, including mattress and bedding brands; and flexible foams for the upholstery and furniture markets.

Greiner is an Austrian manufacturer of plastic and foam products used in a variety of end-markets. The company acquired a 27% stake in Recticel and decided to launch an unsolicited voluntary public takeover bid of €13.50 (approximately US$15.2) per share in order to acquire at least 50% and control of Recticel.

Oaklins’ team in Belgium assisted Recticel’s board of directors as financial advisor by preparing a fairness opinion.