Efanor launches takeover bid on Sonae Indústria and Sonae Capital

Azevedo family holding company launched an OPA on Sonae Indústria, where it already controls 68,8% of the company's capital, and an OPA on Sonae Capital, to acquire the approximately 37% it does not yet own. The success of the operation is conditional on the acquisition of more than 90% of the voting rights in both companies and the objective is to remove both quoted shares from the stock exchange.

Efanor Investimentos launched a Public Tender Offer (OPA) on Sonae Indústria and another on Sonae Capital. The Azevedo family holding company offers 1,14 euros per share in the case of Sonae Indústria and 0,70 euros per share in the offer on Sonae Capital, according to preliminary announcements sent to the Securities Market Commission, this Friday market.

Since 2014, with the capital increase of Sonae Indústria, that Efanor controlled 68,8% of the company's capital, now launching a takeover bid on the 31,2% of the capital that it does not yet control. THE holding offers 1,14 euros per share, paying a premium of 77% in relation to the trading price of 0,644 euros, at the close of the session on the 30th of July.

In the announcement about the takeover bid to Sonae Capital, of which the holding company of the Azevedo family already controls 62,802% of the share capital and 63,738% of the voting rights, offers 0,70 euros per share, paying a premium of 46,8% compared to the trading price of 0,477 euros, at the close of the session on July 30th.

The success of the two operations will be conditioned to the acquisition of 90% of the capital in each of the companies. "The effectiveness of the Offer will be subject to the Offeror's holding, as a result of a takeover bid, more than 90% of the voting rights", informs Efanor, in the two preliminary announcements, indicating that the objective will be to withdraw from the stock exchange from Lisbon, either Sonae Indústria or Sonae Capital.

The shares of Sonae Capital closed the session this Friday to rise 0,63% to 0,48 euros.

(Updated at 19h37)

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