Brief: Sonae-Led Consortium Announces Tender Offer Of 26 Eur/Shr For All Outstanding Shares Of Musti Group

Sonae SGPS SA

29/11/2023 07:35

Nov 29 (Reuters) - Sonae SGPS SA  YSO.LS :
    * INFORMS ITS PARTICIPATION IN A CONSORTIUM AND THE
PRELIMINARY
ANNOUNCEMENT OF A PUBLIC TENDER OFFER FOR THE ACQUISITION OF
SHARES REPRESENTING SHARE CAPITAL OF MUSTI GROUP PLC
    * CONSORTIUM LED BY SONAE IN PARTNERSHIP WITH TWO DIRECTORS
AND
CEO OF MUSTI HAS ANNOUNCED TODAY A VOLUNTARY PUBLIC TENDER OFFER
FOR ALL OUTSTANDING SHARES OF MUSTI AIMING TO ACQUIRE CONTROL OF
CO
    * SHAREHOLDERS OF WILL BE OFFERED CASH CONSIDERATION OF EUR
26.00
FOR EACH SHARE VALIDLY TENDERED IN TENDER OFFER
    * OFFER IS BEING MADE THROUGH FLYBIRD HOLDING OY
    * OFFER VALUES MUSTI'S TOTAL EQUITY AT ABOUT 868 MILLION
EUROS
(EXCLUDING 147,566 SHARES HELD IN TREASURY BY MUSTI)
    * OFFER PERIOD IS EXPECTED TO COMMENCE ON OR ABOUT 18
DECEMBER
2023, AND TO EXPIRE ON OR ABOUT 12 FEBRUARY 2024
    * COMPLETION OF OFFER IS ALSO SUBJECT TO APPROVALS BY ALL
NECESSARY COMPETITION AND OTHER REGULATORY AUTHORITIES AND
OFFEROR GAINING CONTROL TO MORE THAN 90% OF SHARES AND VOTES IN
MUSTI
    * OFFER PRICE OF 26 EUROS PER SHARE REPRESENTS A PREMIUM OF
+27.1%
COMPARED TO CLOSING PRICE OF MUSTI SHARE ON NASDAQ HELSINKI ON
NOVEMBER 28, 2023

Source text: https://tinyurl.com/2cp2hd8w
Further company coverage:  YSO.LS 

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