Kingspan in €700m Belgian firm bid

Shares in specialist building materials group Kingspan rose almost 3% as it said it had offered €700m for the insulation division of Belgian mattress firm Recticel.

Cavan-based Kingspan said the offer was to acquire Recticel's entire insulation and flexible foams divisions, with an agreement with a third party for the disposal of all of the flexible foams businesses if the bid was successful.