Allfunds soar after Spanish media report its exploring sale

Allfunds

04/10/2023 09:41

** Spanish fund manager Allfunds  ALLFG.AS  shares soar over
13% after a report in Spanish media says it has signed up
investment banks Goldman Sachs and Citi to help with the
development of a potential new business plan 
    ** Citing sources, Vozpopuli says the plan may explore
options such as a sale, a merger with a competitor or an
alliance
    ** Goldman Sachs, Citi and Allfunds have all declined to
comment 
    ** Vozpopuli also says, in the sector, it is estimated the
buyer would need to offer a premium of at least 40%, bringing
the transaction prices closer to 5 billion euros ($5.24 billion)
    ** Including Wednesday's jump, Allfunds current market
capitalisation oscillates around 3.2 billion euros
    ** Earlier this year, Euronext  ENX.PA  withdrew its 5.5
billion euro indicative offer to buy Allfunds


($1 = 0.9537 euros)

 (Reporting by Pierre John Felcenloben)
 ((Pierrejohn.felcenloben@thomsonreuters.com))