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.