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Grupo Lala shareholders seek to buy up to 25% of outstanding stock
MEXICO CITY, May 21 (Reuters) - A group of shareholders of Mexican dairy company Grupo Lala announced their intention to acquire up to a quarter of the firm's outstanding shares, according to a Grupo Lala statement on Friday.
The shareholders aim to purchase the stock at an estimated price of 17.36 pesos ($0.8709) per share, a 20% premium to the average value of the shares over the past 30 days of trading, the statement said.
The purchase offer will be subject to various company and regulatory approvals, it added. ($1 = 19.9325 Mexican pesos) (Reporting by David Alire Garcia; Editing by William Mallard)
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