Sidma S.A. (ATSE:SIDMA) entered into a draft merger agreement to acquire remaining 6% stake in Panelco S.A. for €0.04 million in stock on October 14, 2015. Under the terms of the agreement each shareholder of Panelco will exchange 0.228 old shares of Panelco to 1 new share of Sidma Steel Products SA. The transaction is subject to approval by the shareholders of Sidma and Panelco. The deal has been approved by the shareholders of Sidma on November 23, 2015. Sidma S.A. (ATSE:SIDMA) entered into a merger agreement to acquire remaining 6% stake in Panelco S.A. on December 7, 2015.

Sidma S.A. (ATSE:SIDMA) completed the acquisition of remaining 6% stake in Panelco S.A. on December 29, 2015.