Joma to Make Mandatory Offer for CAT Oil

British Virgin Islands-based Joma Industrial Source acquired a 47.7 percent voting stake in CAT oil AG this week and will make a mandatory offer to other shareholders of the German-listed Austrian company, Joma said in a regulatory release on Friday.

"Joma Industrial intends to offer the shareholders of C.A.T. oil AG...a price in cash equalling the domestic weighted average stock exchange price of the C.A.T. oil share during the last three months prior to the publication of the acquisition of control," it said.

CAT shares were up 5 percent at 15.40 euros by 1539 GMT.

(Reporting by Shadia Nasrall, Editing by Michael Shields)