Heinz-Jurgen Preiss-Daimler and Beatrix Preiss-Daimler made a mandatory offer to acquire 8.45% stake in AS Valmieras stikla skiedra (MUN:W2R) for €7.1 million on January 30, 2018. As a part of consideration, Heinz-Jurgen and Beatrix Preiss-Daimler will acquire 11.4 million shares of AS Valmieras stikla skiedra at €3.52 per share. Corvalis GmbH, P-D Composites Handels- Und Service Gmbh, P-D Glasseiden Gmbh Oschatz and P-D Management Industries-Technologies GmbH are acting in concert with Heinz-Jurgen and Beatrix Preiss-Daimler and following the completion of the transaction, Heinz-Jurgen and Beatrix Preiss-Daimler and the entities acting in concert with them would own 100% stake in AS Valmieras stikla skiedra. The transaction would be financed by credit institution UniCredit Bank AG. The transaction is subject to the approval from Financial and Capital Market Commission and other regulatory approvals. The results of the tender offer and the billing is expected to take place on April 3, 2018. As of February 20, 2018, the Financial and Capital Market Commission approved the mandatory acquisition of AS Valmieras stikla skiedra by Heinz-Jurgen and Beatrix Preiss-Daimler. As of Febuary 26, 2018, Heinz-Jurgen and Beatrix Preiss-Daimler commenced the mandatory bid for the remaining shares in AS Valmieras stikla skiedra. The takeover bid will last for 30 calendar days, starting from the mandatory takeover bid offer day. The offer would end of March 27, 2018.