Monbat Board of directors decided not to pursue an acquisition of the controlling package inAassad group, Tunisia
Financial
In the course of the final stage of the due diligence of L’accumulateur Tunisiene Assad there were subsequent matters disclosed which are challenging the originally expected value creation and are increasing Monbat’s level of enterprise risk. In light of securing the already committed investment parameters and acting as a guardian to the interests of its bondholders and shareholders, Monbat AD will sustain its investment selectivity and focus on those business projects in the current pipeline, which provide the best match between return and operational risk.
The terms and conditions of the issued corporate bond remain unchanged.
The other projects financed by the recently corporate bond emission are underway according the plan. Monbat AD will present more information in a designated investors meeting in respect to the progress of the current projects and the evolution of the targets in the overall Monbat Investment Portfolio.
contact for investors
Daniela Peeva
Investor Relations Director
tel. +359 2 988 2413
e-mail: investorrelations@monbat.com