What was an open secret has been confirmed. Apollo will not leave the capital APPLICATION Despite being eliminated from the war of takeover amberA consortium formed by ISQ and TDR. Only 5.32% of the capital of the listed Spanish company finally accepted the delisting offer initiated by the main shareholder. The New York fund, which owns 21.8% of the capital, did not participate in the takeover offer. and will remain a minority shareholder.
Amber defeated American fund Apollo in a takeover battle for control of the certification group in June. So far, 72.38% of the capital was controlled by technical inspection and technical inspection of Applus vehicles; therefore, after the outcome of the exclusionary takeover bid announced this Thursday National Securities Market Commission (CNMV)Spanish stock market watchdog Amber will hold 77.7% of the capital.
Amber’s takeover bid was in practice targeting 27.62% of the capital, as it already held the remainder of the shareholding. Finally, the delisting offer, launched at 12.78 euros, the price paid in the Amber acquisition offer, was accepted by 6.86 million shares.It represents 19.25% of the shares to which the offer is directed, i.e. 5.32% of the capital.
The stock exchange official stated that the shares will be excluded from trading once the transaction is completed.
Last July Applus held an extraordinary general meeting of shareholders and gave the green light to the takeover bid 12.78 euros per share for all shares of the company.
Recently, various media outlets have drawn attention to the possibility of Apollo not participating in this elimination bid in order to avoid paying millions of dollars in compensation. to ‘cazaopas’ funds, which sold their shares at 10.65 euros last January.
Meanwhile, Amber continues to support Applus’ IPO and a few days ago called a meeting next December 19 to amend its charter and adapt them to its new reality as an unlisted public limited company.
