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Gigaset shareholder Mantra seeks to block takeover by Goldin‑Reuters

(Reuters) – French private equity firm Mantra Investissement urged shareholders of German phone maker Gigaset to participate in a capital increase to block a takeover attempt by Singapore-based Goldin Fund Pte. Ltd.

“Mantra believes that Goldin is taking advantage of a temporary need for cash to acquire the business at a low price and remove all of Gigaset’s future upside potential for existing shareholders,” the company, which owns 5.2 percent of Gigaset, said in a statement on Monday.

Gigaset said on Sept. 27 that Goldin was offering 1.00 euro per share to buy the company, valuing it at about 70 million euros ($95 million).