The Spanish National Securities Market Commission (CNMV) authorized this Tuesday, 10th, the voluntary Public Acquisition Offer (OPA) launched by the Portuguese company Bondalti for 100% of the capital of the Catalan chemical company Ercros.
In a statement, the CNMV informs that it decided to authorize the OPA presented by Bondalti Ibérica “as it considers that its terms are in compliance with current regulations and considers the content of the explanatory leaflet” presented at the beginning of February to be sufficient.
Bondalti offers to pay in cash a total of 3,505 euros per share.
Although Bondalti Ibérica and the Italian Esseco initially presented offers for Ercros, Esseco ended up withdrawing its takeover bid for Ercros in August due to the demands of the National Markets and Competition Commission (CNMC).
Recently, Bondalti reduced the minimum condition initially foreseen in its offer from 75% of the capital with voting rights to “at least more than half” of these rights.
At the end of October, the CNMC had already authorized, in a second phase and with commitments, the OPA launched by the Portuguese Bondalti Chemicals to take full control of Ercros.
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