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The European Commission has granted clearance for the proposed acquisition of Dutch distributor ERIKS by SHV Alkmaar B.V.,
a subsidiary of SHV Holdings N.V.
The company would buy ERIKS for $48 a share, according to the latest offer announcement.
ERIKS is a distributor of power transmission and related products. It had sales of EUR $1.1 billion in 2008 with 5,138 employees. More information at www.eriks.com.
SHV is a privately held holding company of a conglomerate active in LPG trade and distribution, cash and carry wholesale, heavy lifting and transport activities, private equity, investing in the exploration, development and production of oil and gas, and renewable energy. It is in 45 companies and employs 38,000 people. More information can be found at www.shv.nl.
More information on the deal can be found in ERIKS press release section of its Web site.