CVC, GBL secure over 90% of Recordati, clear path to delisting
CVC, GBL secure over 90% of Recordati, clear path to delisting MILAN, Nov 9 (Reuters) - Private equity firm CVC CVC.AS and Belgian investment group GBL GBLB.BR secured more than 90% of Italian pharmaceutical group Recordati RECI.MI at the end of the takeover offer period, a regulatory filing showed on Monday, paving the way for the delisting of the company.
The additional shares tendered on Monday took the consortium's holding above the 90% threshold required to delist the €11 billion ($12.32 billion) drugmaker
The offer closed at 1630 GMT on Monday
CVC and GBL offered €53 per share
Following the close of the offer, the consortium's holding rose to 91.9%, according to Reuters calculations based on Borsa Italiana data
The figure does not include any shares acquired on the market by CVC or GBL on Monday
($1 = 0.8926 euros)
(Reporting by Elisa Anzolin and Giulio Piovaccari
Editing by Tomasz Janowski)
((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))
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CVC, GBL secure over 90% of Recordati, clear path to delisting
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