NewMedia Spark to acquire minority stake in Speutz
17 May 2002 | 666 views | 0
Venture capital firm NewMedia Spark is to make a voluntary public offer to acquire the remaining shareholdings in German online brokerage Speutz.
The offer price will be EUR5 per share, which represents a premium of 41% over the closing price of Spuetz shares on 16 May 2002. If successful, the offer will involve a maximum cost to Spark of EUR11 million.
NewMedia Spark acquired a majority stake in Spuetz in September 2001 and currently holds approximately 60% of the outstanding share capital. Since September, Spuetz has appointed a new management team, sold its stake in the Deutsche Boerse and most recently merged its warrant trading and settlement business, Spuetz Boersenservice, with the equity broking business of Kling Jelko Wertpapierhandelsbank.