A proposed deal is in the making that will see Buhler Industries, the publicly traded Versatile and Farm King equipment manufacturer, fully absorbed by Asko, its Turkish majority shareholder.
There will be no change to the brands and dealer networks, but the Buhler name is to be dropped. The new company will be called Amalco, a wholly owned subsidiary of Asko Holdings, which purchased 96.7% of the shares of Buhler Industries in December 2023 (Asko Holdings also owns Basak Traktor).
The main reason for the change is that substantial investments are needed over the next few years to modernize the Versatile tractor plant in Winnipeg and the Farm King factory in Morden (both in Canada).
The company wants to crack on and get things done with the least amount of hassle. Following the completion of the ‘amalgamation agreement’, the common shares will be de-listed from the Toronto Stock Exchange and Buhler Industries will apply to cease to be a reporting issuer under applicable Canadian securities laws.
Buhler has called a special meeting of shareholders on March 28 to approve the change.
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