He Council of Ministersat the meeting held last Tuesday and taking into account the previous favorable report of the Foreign Investment Council, authorized “unconditionally” the public offer for acquisition of shares (public tender offer) group volunteer Esséco about Ercrosas reported this Thursday by the Italian company to the National Securities Market Commission (CNMV).
The Italian group Esseco launched its voluntary public purchase offer on the entire capital of Ercros on June 28, which led it to confront that already presented by the Portuguese company. Bondalti.
Esseco’s takeover bid for Ercros
Likewise, the processing of Esseco’s public purchase offer for Ercros by the National Securities Market Commission (CNMV) was suspended on the very day of its launch by the Italian company, since the authorization of the Spanish government.
The Italian group also indicated that other authorizations on which the public purchase offer was conditional are not necessary: that of the French Ministry of Economy and Finance, and the authorization or, where applicable, the non -opposition of European Commissionso these conditions have diminished.
Esseco and Bondalti lowered the price of the public purchase offer that each of them had launched on the entire capital of Ercros, after having both adjusted it according to the distribution of the dividend, leaving the amount fixed has 3,745 euros and 3,505 eurosrespectively.
