Enric says CIMC to make $199 mln general offer

Enric Energy Equipment Holdings Ltd. (3899.HK: Quote, Profile, Research) said China International Marine Containers (Group) Co. Ltd. (000039.SZ: Quote, Profile , Research) (CIMC) will make a general offer for all outstanding shares it did not already own in the company for HK$1.55 billion (US$199 million).

Enric said CIMC, the world's largest shipping container maker, would make the general offer of HK$5.92 per share in cash for all outstanding shares it did not already own, valuing the company at HK$2.68 billion, after its purchase of a 42.18 percent stake in the company.

The offer price represents a 27.36 percent discount to the closing price of HK$8.15 on July 30 prior to a trading suspension. Trading in the shares will resume on Monday.

CIMC will also offer HK$4.42 in cash for each outstanding share option and it will maintain the listing of the Hong Kong-listed energy equipment maker on the Hong Kong stock exchange, Enric said in a statement late on Friday.

A filing from the Hong Kong bourse had shown on Friday that CIMC bought a controlling 42.18 percent stake, or 190.703 million shares, in Enric at HK$5.92 apiece for HK$1.13 billion on July 30. (US$1=HK$7.8)