Webinvest wins bid acceptance
Wednesday 08 April 1998
WEBINVEST, the unit of Investcorp that is bidding to take over Watmoughs, the printing company, has received acceptances for about 50.05 per cent of the share capital. The offer has been declared unconditional as to acceptances. The company is still awaiting the ruling of the Office of Fair Trading. Investcorp also said no job losses among the manufacturing workforce was expected to occur as a direct result of the merger of British Printing Company and Watmoughs, although existing rationalisation plans of both companies, amounting to an 350 jobs losses from a combined workforce of 6,000, will be implemented.
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