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Netherlands: Soft drink company rejects bid

 |  April 12, 2017

Refresco Group NV rejected a takeover bid from French private equity firm PAI Partners SAS that valued the Dutch soft-drink bottler at $1.5 billion.

Refresco received the offer last week on April 6 and its board decided that the proposed terms didn’t merit further investigation, the company said in a statement on Wednesday in response to a Bloomberg News report. PAI is weighing a bid to take the company private, and other buyout firms may also be interested, people familiar with the matter said.

No final agreements have been reached, the people said, asking not to be identified because the deliberations are private. Refresco jumped 10 percent at 12:21 p.m. in Amsterdam, its biggest-ever gain. That gave the Rotterdam-based company a market value of 1.35 billion euros. A representative for PAI declined to comment on the firm’s interest in Refresco.

Full Content: Bloomberg

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