Catalana Occidente majority shareholder launches takeover bid

Grupo Catalana Occidente SA

28/03/2025 07:35

March 28 (Reuters) - Spanish insurance company Catalana Occidente's GCO.MC majority shareholder Inoc on Thursday a launched a bid to buy the shares in the company it does not own.

Inoc, which already holds 62.03% stake in the company, is offering 50 euros ($53.93) per share, which represents a premium of 18.3% on Wednesday's closing price.

Catalana Occidente's board of directors will review the terms and conditions of the offer, the company said in a separate statement.

($1 = 0.9271 euros)

 (Joanna Jonczyk-Gwizdala in Gdansk, Editing by Inti Landauro and David Evans)

 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))