Gilde to make public offer for Econosto

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Gilde Buy out Partners intends to make a public offer for the entire issued and outstanding share capital of Econosto at an offer price of EUR7.25 per share in cash. Based on this offer, the total share capital of Econoco is valued at approximately EUR117m. The intended offer represents the highest share price for Econosto in seven years.

A group of large shareholders, collectively holding approximately 51% of the share capital, have already irrevocably committed themselves to tender their shares in Econosto under the intended offer. The supervisory board and management board of Econosto unanimously support and recommend the offer.

Founded in 1892 Koninklijke Econosto is an international group of technical wholesale companies with operations in Europe, the Middle East and Far East. It has 650 employees worldwide. In the first half of 2007, Econosto's net sales rose by 32% from EUR91.4m to EUR120.3m. Econosto will continue its operations as an independent company under its current name. It will get the opportunity to grow further organically, but especially through targeted acquisitions in both the traditional MRO sector and the international project sector.