Kad and Sod sell Paloma again
The partly state-owned funds Kad and Sod have one again announced a soliciting for tenders for the purchase of the shares of the hygienic paper manufacturer Paloma. The majority owners decided to take this step because they are trying to come in contact with as many potential investors as possible. The two funds point out that the selected bidder will have to be an appropriate and quality partner in the future operation of the company.
Kad and Sod are thus selling a total of 2.410,007 ordinary shares, 1.137,232 of which are owned by Sod and 1.272,775 by Kad, respectively. Therefore, the two partly state-owned funds have a 70.79 percent stake in Paloma.
Bidders will be given the possibility of performing due diligence, divided into two phases. The deadline for the submission of bids after the first phase is November 24th 2008.