BF, Vecchioni and Dompé launch a 666 million takeover bid | EUROtoday

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Arum and Dompé Holdings, respectively the 2 firms headed by Federico Vecchioni and Sergio Dompé, have introduced a voluntary public buy provide for all of BF’s atypical shares (together with treasury shares held by the issuer), minus the shares already held by the bidders as of immediately.

The provide

In explicit, the provide considerations a most n. 133,242,020 shares, representing 50.878% of the issuer’s share capital excluding 24.147% of Arum and 24.975% of Dompé Holdings.

Bidders pays a money consideration of 5 euros which means a premium of 13.8% in comparison with the cut-off date of April 20 for a most whole outlay of 666 million.

The causes

The provide shouldn’t be aimed toward delisting however to “increase the respective shareholdings held in the issuer’s share capital and crystallize certain governance profiles of BF, also with the aim of guaranteeing the stability of the ownership structure, investing further in the growth and development” of the corporate.

The consolidation of shareholdings, it’s additional defined, is useful «to strengthen the cohesion of the related shareholder construction and to supply the issuer, additionally via the stipulation of the shareholders’ settlement, with a cohesive possession base, appropriate for supporting the implementation of medium-long time period strategic and industrial plans».