8th Jul 2019 16:42
(Alliance News) - FFI Holdings PLC on Monday said Steven Pasko holds an increased stake in the company of 35% after a deal on Wednesday last week as part of a mandatory takeover offer.
Pasko controls 600 Partners LLC, which in turn controls Lumiere Acquisitions Co LLC. On Tuesday last week, Lumiere announced that it must make a mandatory takeover offer for FFI after it acquired a 30.1% stake in the company.
On Tuesday, Lumiere said it had bought 47.5 million FFI shares from FFI Chief Executive Steven Ransohoff and the Crystal Court Trust, of which Ransohoff and his immediate family are the beneficiaries.
Lumiere was then required to make mandatory cash offer for the remaining FFI shares and did so, offering 25 pence per share for the shares it did not already own. After a Wednesday deal, controller Pasko held a total of 55.9 million shares or a 35.4% stake.
Shares in FFI ended up 1.0% at 25.00 pence on Monday in London.