Efanor holds 92,3% of Sonae Capital and 86,2% of Sonae Indústria after the takeover bids

Efanor informed Euronext that it wants to proceed with the potestative acquisition of shares that were not acquired in the OPA and that if the conditions for that do not happen, "it intends to promote the loss of quality of public company". If none of the situations occurs, they will be excluded from trading on the regulated market. For now, Sonae Capital leaves the PSI 20-30 October.

Efanor, holding of the Azevedo family, increased the stake in Sonae Capital to 92,3% and in Sonae Indústria to 86,2%, according to the results of the Public Tender Offers, Euronext Lisbon reported this Wednesday.

In both cases, Efanor informed Euronext that it wants to proceed with the potestative acquisition of the shares that were not acquired in the OPA and that if the conditions for that do not happen, “it intends to promote the loss of quality of public company”.

"If none of these situations occurs, the shares will be excluded from trading on the regulated market," said Euronext. In a separate statement, Euronext reported that, following the results of the takeover bid, Sonae Capital will be excluded from the PSI 20 index as of 30 October.

The holding company of the Azevedo family on July 31 offered 1,14 euros per share in the case of Sonae Indústria and 0,70 euros per share in the offer on Sonae Capital. In the case of Sonae Capital, the consideration was increased, on 21 October, by 10% to 0,77 euros per share.

In both offers, the success of the two operations was conditional on the acquisition of 90% of the capital of and more than 90% of the voting rights.

In the case of Sonae Capital, Efanor acquired a total of 62,34 million shares to increase the stake from 67,357% to 92,3%, but Euronext reported that “the shares necessary to achieve 90% of the rights have not been acquired of votes covered in the Offer ”. The holding company bought 5 million shares to increase the stake from 47% to 74,17%.

Efanor is held in equal shares of 25,1% by the three children of Belmiro Azevedo, (Claúdia, Paulo and Nuno Duarte) with the remaining 20% ​​divided equally between the businessman's widow, Maria Margarida de Azevedo and the Foundation Belmiro Azevedo.

The holding company holds a 52,90% stake in the Sonae Group.

Read more

Related

Revision of the OPA price does not alter Sonae Capital's positive opinion on the offer price

This week Efanor, the holding company of the Azevedo family, revised the counterpart in the Public Tender Offer (OPA) on Sonae Capital upwards by 10%. Management considers the price to be adequate and that shareholders should sell in the OPA.

Azevedo Family increases the price of the takeover bid on Sonae Capital by 10%

Efanor, holding company of the Azevedo family, revised the price of the Public Tender Offer (OPA) on Sonae Capital upwards. Now pay 77 cents instead of the previous 70 cents. This takeover bid on Sonae Capital takes place simultaneously with an offer on Sonae Indústria. The Sonae Group wants to withdraw both from the stock exchange.

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.
Recommended

Which path to hydrogen? Shell and Schneider discussed future of energy at the Web Summit

Both companies believe in offering their customers the greatest number of options regarding the energy they can use. However, for Schneider, hydrogen has no economic value and the future "will be more electric and electricity will be produced and consumed in a decarbonized and decentralized way".

Johnson & Johnson CIO: “Technological ecosystem helped to rethink science”

New technologies have accelerated the way in which new medicines are discovered and produced. Combining all available data, combining them with science and putting them into practice are the challenges pointed out to the pharmaceutical sector over the next few years.

AHRESP affirms that the Government “is committed to announce measures” according to the proposals made

On the Government's side, the association stresses that the Minister of Economy “has promised to announce publicly very soon, with the presence of the social partners, the measures that the government may decide in light of the proposals presented by the associations present at this meeting” .
Comments