(Teleborsa) – The takeover bid on Cerved Group, launched by Castor Bidco, financial vehicle of the Ion Capital of Andrea Pignataro. It was indeed exceeded the minimum threshold of accessions (66,67%) in order to aim for the launch of a residual offer and to delisting of the title from the market.
From the provisional data announced by Intesa Sanpaolo, as intermediary in charge of collection, it emerges that at the end of the offer period, on 9 September 2021, in adhesion 154,072,594 Cerved shares, equal to 78.9% of the share capital.
In the light of the provisional results of the Offer, it appears the Threshold Condition met, relating to the achievement of a direct and / or indirect participation at least equal to 66.67% of the share capital share capital of the Issuer which allows the Offeror to have sufficient voting rights to approve the resolution of Functional merger of the Delisting.
Based on the provisional results of the Offer, the threshold of 90% of the capital has not been exceeded and therefore the corresponding due to the holders of the shares is equal to 10,20 euro per share, which will be paid to subscribers to the Offer on 16 September 2021. It should be remembered that, if this threshold was exceeded, the price would have been raised to € 10.50.
On the basis of this consideration, Castor Bidco will pay 1.57 billion to take over the Cerved shares, which could rise to a maximum of 2 billion if the withdrawal rights are exercised for those who have not signed up to the takeover bid.