FRANKFURT (dpa-AFX) - A takeover bid by the parent company Südzucker sent the shares of its subsidiary Cropenergies soaring in after-hours trading on Tuesday. The shares of the biofuel producer were initially suspended from trading on the Tradegate platform and last traded at 11.04 euros. This corresponded to an increase of a good 62 percent compared to the Xetra closing price. Südzucker shares fell slightly on Tradegate.

The food group Südzucker wants to take over its faltering subsidiary completely and then delist it from the stock exchange. The company announced a delisting tender offer for all shares not yet owned by Südzucker. The offer price is expected to be EUR 11.50 in cash per share. The shares last traded at this level on Xetra in April of this year. While the parent company has recently been optimistic about its business prospects, the subsidiary has attracted negative attention by lowering its forecasts./la/he