Betaville

UNCOOKED AERT: Ontex said to ... - Part 4

I see Bloomberg has decided to follow up little old Betaville's UNCOOKED Alert from a couple of weeks ago about Ontex, the Belgian diaper maker. Below is the link to the Bloomie piece:

https://www.bloomberg.com/news/articles/2022-03-02/ontex-s-top-investor-gbl-is-said-to-weigh-buyout-of-diaper-maker?utm_source=google&utm_medium=bd&cmpId=google

The Bloomberg piece suggests Group Bruxelles Lambert, which owns around 20pc of Ontex, is weighing a take private of the business.

Well, Betaville does have a bit more detail on the story than Bloomberg is reporting tonight.

People following the situation have told Betaville that GBL has been talking to ENA Investment Capital, the hedge fund that is one of Ontex's largest shareholders, about forming a consortium to buy Ontex.

ENA has been rowing with Ontex for a couple of years about the company's strategy. See the link below:

https://www.businesswire.com/news/home/20200807005128/en/ENA-Investment-Capital-Publishes-Open-Letter-to-Ontex-Shareholders

Credit Suisse has been lined up to finance the consortium, said these people following the situation...