Valiant Holding AG said May 26 that it holds 89.8% of Triba Partner Bank AG's shares as of May 19 following its public tender offer to buy shares in Triba for CHF1,450 per share in cash.
Valiant held 16,822 shares or a 30.6% stake in Triba as of April 12, when it published its public tender offer. A total of 32,560 shares, or 59.2% of Triba's share capital, have been tendered under the offer, taking Valiant's stake beyond the two-thirds majority required for it to fully integrate Triba in 2018.
The public tender offer's extended acceptance period will end June 23. The tendered shares will be purchased two days later.