Wienerberger Raises Stake in Tondach Gleinstätten
Published: February 2, 2011; 00:01 · (Vindobona)
Wienerberger transfers 50% of Bramac to Monier in exchange for an additional 25% stake in Tondach Gleinstätten AG and a cash settlement of € 40m.
Wienerberger Raises Stake in Tondach Gleinstätten / Picture: © Wienerberger
Wienerberger AG today announced the acquisition of a further 25% stake in Tondach Gleinstätten as part of a stock swap with the German joint venture partner Monier. Wienerberger and Monier previously held common investments in the roof tile business through two joint ventures focused on Eastern Europe. Each of the two groups held 50% of the shares in Bramac (concrete roof tiles) as…
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