Takeover in the far north

The investment company CVC Capital Partners, which operates worldwide, has taken over Danish construction materials group Danske Trælast of Soborg via its subsidiary DT Group. Danske Trælast operates the Silvan Kæden DIY chain in the DIY sector in Denmark and Sweden. The building materials companies DDT Detail in Denmark, Starkki in Finland, Beijer Byggmaterial in Sweden and Neumann Bygg in Norway are also part of the group. On expiry of the tender offer to shareholders of 171 DKK (23 €) per share on 13 May 2003, CVC had received acceptances amounting to 91.8 per cent of the shares. Following a further purchase offer, the remaining shareholders are being forced to sell. The supervisory board set up the deal following a request from some of its major shareholders in October 2002.