Several agreements were brokered at the end of January in negotiations underway since the fourth quarter of 2012 to find a buyer for Spano Group. The US flooring group Mohawk Industries is to acquire all shares in Spano Invest through Unilin. The parties settled on a purchase price of €125m or roughly US$168m, according to a statement released by Mohawk on 28 January. Spano Invest holds all shares in Spano Group. Its present shareholders are Sofinim, which is part of Antwerp-based Ackermans & van Haaren with 72.9%, as well as managing shareholder Jan Ide with 25.1% and other members of Spano’s management team with 2%.

Source: EUWID

Posted and edited by Riona, Hanbao News Department

Contact: rionach@cltimber.com