Brief: Optimum Re Spain: Ireland's Promontoria Bravo Launches Takeover Bid

Optimum Re Spain Socimi SA

13/08/2019 06:55

Aug 13 (Reuters) - Optimum Re Spain SOCIMI SA  YORS.MC :
    * SAID ON MONDAY THAT IRELAND'S PROMONTORIA BRAVO DESIGNATED
ACTIVITY COMPANY HAD SIGNED A PURCHASE COMMITMENT WITH THE
COMPANY'S SHAREHOLDERS HOLDING 92.88% STAKE AND TO LAUNCH A
TENDER OFFER FOR THE SHARES 
    * PROMONTORIA BRAVO TO EXTEND THE OFFER ON THE SHARES OF THE
REMAINING SHAREHOLDERS WHO DID NOT SIGN SUCH COMMITMENT
    * THE OFFER PRICE TO BE EITHER 14.05 EUROS PER SHARE (75% TO
BE
PAID ON CLOSING DATE AND 25% 18 MONTHS AFTER CLOSING DATE) OR
13.28 EUROS PER SHARE (PAID IN FULL ON CLOSING DATE)
    * THE OFFER IS ADDRESSED TO 4,972,423 OPTIMUM SHARES,
REPRESENTING
99.45% OF THE SHARE CAPITAL, EXCLUDING TREASURY STOCK
    * THE ACCEPTANCE PERIOD TO START ON AUG. 13 AND END ON SEPT.
9
    * PROMONTORIA BRAVO IS AN AFFILIATED COMPANY OF CERBERUS
CAPITAL
MANAGEMENT LP

    
 Source text: https://bit.ly/2KvWPyM
    
 Further company coverage:  YORS.MC  
   


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