Sonae Indústria and Sonae Capital soar more than 35% and are closer to the price of the Azevedo family takeover bid

Sonae Indústria alone shot up 65% today in the first session after Efanor launched the takeover bid on the listed company.

Sonae Indústria and Sonae Capital recorded strong gains in this Monday's session, the first after the takeover bids launched by Efanor, controlled by the Azevedo family.

Sonae Capital closed up 36,67% to 0,656 euros, being more than four cents from the counterpart of 0,70 euros per share offered in the OPA:

Sonae Indústria, on the other hand, shot 65,15% to 1,09 euros, being five cents from the 1,14 euros per share offered by Efanor.

The Azevedo family holding company controls 68,8% of the company's capital, while in Sonae Capital it holds 62,8%.

On Friday, Efanor announced the launch of the two takeover bids on the two listed companies in order to increase its participation in the two listed companies.

Efanor announced on Friday that its offer for Sonae Capital represented a premium of 46,8% compared to the closing on 30 July. In turn, in the case of Sonae Indústria, the offer implies a premium of 77% in relation to the July 30th price.

The success of these two operations will be conditioned to the acquisition of 90% of the capital in each of these companies.

"The effectiveness of the offer will be subject to the offeror [Efanor] holding, as a result of the takeover bid, more than 90% of the voting rights", according to Efanor.

The purpose of the operations is then to withdraw the companies from the Lisbon stock exchange.

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Sonae Capital and Sonae Indústria soar more than 38% after takeover bid launched by the Azevedo family

Efanor launched two public takeover bids on Friday to control these two listed companies in order to withdraw them 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.
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