Grupo Petrotemex, S.A. de C.V. cancelled an offer to acquire 25% stake in Enka de Colombia S.A..
Grupo Petrotemex, S.A. de C.V. cancelled an offer to acquire 25% stake in Enka de Colombia S.A. (BVC:ENKA) on December 18, 2020. This is due to the fact that Mexico-based Grupo Petrotemex did not receive the minimum amount of shares that it was willing to buy. The firm had offered to buy a minimum of 1.77 billion shares and a maximum of 2.94 billion shares at a price of COP 10.50 per share. However, 34 shareholders agreed to sell 147.06 million shares which was equivalent to 5% of the maximum that Grupo Petrotemex was prepared to buy.