Business · Companies · 3 hrs ago
Navarra fund buys 1.05% stake in Azkoyen during takeover offer
Navarra’s investment fund bought 1.05% of Azkoyen, a vending-machine maker based in Peralta, Navarra.
The stake is worth about €2.5 million, and the fund has a total budget of €45 million.
The purchase comes during a €244 million takeover offer from Ohmnia Electronics, controlled by businessman José Antonio Jainaga and partly owned by the Basque government.
Ohmnia is offering €10 per share for all of Azkoyen, with a plan to merge the companies and keep the combined group listed on the stock market.
Navarra’s government wants to protect jobs and keep Azkoyen rooted in the region, and the share purchase could give it a voice in the merged company’s key decisions.
The fund may buy more shares, but the report says its aim may be influence rather than blocking the offer.
Azkoyen’s board has called the offer friendly, but it still needs to complete its review and recommend whether shareholders should accept it.
Navarra’s Cenit investment vehicle disclosed a 1.05% stake in Azkoyen, valued at €2.5 million.
The purchase comes during an offer by Ohmnia Electronics for all of Azkoyen at €10 per share.
The offer values the Peralta-based company at €244 million.
Navarra’s government has said it wants to protect jobs and Azkoyen’s roots in the region.
Cenit may seek a role in strategic decisions at a combined Ohmnia and Azkoyen group.
- Who
- The Compañía de Empresas Navarras de Inversión Territorial (Cenit), an investment vehicle linked to Navarra’s government.
- What
- Cenit disclosed a 1.05% stake in Azkoyen, valued at €2.5 million.
- When
- The article was published on October 27, 2026. The purchase date is not stated.
- Where
- Azkoyen is based in Peralta, Navarra.
- Why
- Navarra’s government wants to protect employment and Azkoyen’s roots in the region, and may seek influence in the company’s future strategic decisions.
This story does not have two clearly opposing sides.
An agreement was signed to create the investment vehicle with a budget of up to €45 million.
Ohmnia Electronics made an offer of €10 per share for all of Azkoyen.
Cenit’s purchase of a 1.05% stake in Azkoyen was reported to Spain’s securities regulator.
- Stake
- 1.05% of Azkoyen
- Stake value
- €2.5 million
- Offer price
- €10 per share
- Offer valuation
- €244 million
- Cenit budget
- Up to €45 million
- Combined group target
- Annual revenue of €400 million and 2,000 employees
What people are saying
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projects that provide a boost and an objective improvement to the productive sector of the regional community