We assisted Neo Industrial Plc in their purchase of all the shares in Reka Rubber Ltd from Neo Industrial’s largest shareholder Reka Ltd. The purchase price is EUR 7.5 million and will be paid in cash. This acquisition is a step for Neo Industrial from an investment company to an industrial conglomerate, as it will form a new rubber industry business adjacent to its cable industry business. The company will later change its name to Reka Industrial.

Reka Rubber is one of the leading European manufacturers of small and medium-sized rubber components to the heavy vehicle and machine building industries.

The acquisition is conditional on the acceptance of the annual general meeting to be held on 24 June 2020.