FN Herstal, S.A's takeover bid for UK-based company Manroy Plc, was approved by the UK Competition and Markets Authority and 95.59% of sharholders on Tuesday 01 July 2014.
As of now, FN Herstal controls Manroy Plc, which employs around 70 staff, and designs and manufatures .50 cal and 7.62mm machine guns, as well as weapon mounts, tripods, 20mm cannons and more recently turrets.
The necessary procedures will be put in place to acquire 100% of the shares in Manroy and delist the company. This deal is part of the Herstal Group's expansion, allowing FN Herstal to consolidate its position in a strategic European market.
02 July 2014