Cyprus:
Joma Industrial Source Corp - Successful Hostile Mandatory Public Takeover Offer For CAT Oil AG
29 January 2016
Elias Neocleous & Co LLC
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In late 2014 and early 2015 we acted as lead counsel
co-ordinating all aspects of the successful €800 million
hostile mandatory public takeover offer by Joma Industrial Source
Corp (Joma) of CAT Oil AG, an Austria-based holding company which
is listed on the Frankfurt Stock Exchange (O2C). The shares in CAT
Oil were held via a number of Cyprus sub-holding companies and
partnerships and the bid was strongly resisted by the incumbent
management. CAT Oil's management and supervisory boards finally
accepted the takeover offer and recommended it to other
shareholders in January 2015.
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