Scapa scraps Korean bid
TECHNICAL tapes group Scapa has pulled out of talks to buy a South Korean speciality tapes business.
In March it said it had entered into a consortium agreement with private equity firm SkyLake Incuvest, also based in South Korea, to bid for Tapex which makes tape for the electronics, consumer and industrial markets.
In a statement released today it said it had been, “unable to agree acceptable terms with the sellers of Tapex and has withdrawn from discussions.”
Scapa is based in Ashton-under-Lyne and has a listing on the London Stock Exchange.
