UK Floorcoverings Firm Victoria Fails to Make Headway in Lano Carpets Acquisition Talks.
M2 EQUITYBITES-April 18, 2016-UK Floorcoverings Firm Victoria Fails to Make Headway in Lano Carpets Acquisition Talks
(C)2016 M2 COMMUNICATIONS http://www.m2.com
18 April 2016 - UK-based floorcoverings company Victoria plc's (LSE: VCP) discussions with the shareholders of Belgian carpet manufacturer Lano Carpets NV regarding the potential acquisition of the business have ceased, the company said.
In March, Victoria announced that it was in talks to buy Lano, which designs and produces broadloom carpets, rugs, carpet tiles, and artificial grass.
The company was founded in 1970 and is based in Harelbeke, Belgium with a production site in Forceville, France.
Victoria said it remains focussed on its strategy of pursuing acquisition opportunities that will create shareholder wealth.
It added that discussions "are already underway" with suitable businesses both within the UK and overseas.
Victoria is a designer, manufacturer and distributor of floorcoverings.
((Comments on this story may be sent to email@example.com))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 EquityBites (EQB)|
|Date:||Apr 18, 2016|
|Previous Article:||Worldview Unit's GBP 6.42m Offer for Irish Oil and Gas Firm Petroceltic Lapses on Lack of Support.|
|Next Article:||Trucost Granted Dispensation from Certain City Code Requirements.|