I Squared and TDR Funds submit highest bid for Spain's Applus+

Applus Services SA

26/04/2024 13:43

April 26 (Reuters) - Amber, a vehicle of infrastructure
fund I Squared Capital Advisors and TDR Capital, submitted the
highest bid for Spain's Applus+, Spanish regulator CNMV said on
Friday, valuing the industrial testing firm at 1.65 billion
euros ($1.77 billion).
    Buyout fund Apollo and Amber filed tender offers last
summer, kicking off a bidding war.   
    Amber offered 12.78 euros per share, topping the 12.51
offered by Apollo's Manzana Bidco. 
    Applus shares were up 10.5% after it resumed trading after
being suspended shortly before the bid values were revealed.
    The company's board said this month that it favoured Amber's
bid.


    
    
    
    
    
    


($1 = 0.9329 euros)

 (Reporting by Joao Manuel Mauricio in Gdansk, Editing by Emma
Pinedo)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))