CNMV authorises the delisting takeover bid for Ercros, S.A. launched by Bondalti Iberica, S.L.U.
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The CNMV has authorised the delisting takeover bid for Ercros launched by Bondalti Iberica (José de Mello Group), which already controls 77.23% of the share capital following the bid authorised in February. The offer effectively covers 20,820,562 shares, 22.77% of the capital, at EUR 3.505 per share and is unconditional.
Key points
- Backed by a Banco Santander guarantee of EUR 72.98 million.
- The price is set under Article 65 of the Securities Markets Law and Article 10 of the Takeover Bid Royal Decree, with a valuation report.
- The shares will be delisted after settlement, or after the squeeze-out if its requirements are met.
Who is affected
Minority shareholders of Ercros.
Deadlines
Acceptance period of 49 calendar days from the trading day following the first announcement.
Plain-language version
The CNMV, Spain's market watchdog, has approved a delisting bid for Ercros: Bondalti, which already owns 77.23% of the company, offers to buy the remaining shares at 3.505 euros each to take it off the stock market. Shareholders have 49 days to decide whether to sell.
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