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Amber launches a takeover bid on Applus at 9.75 euros per share

MADRID, 14 Sep.

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Amber launches a takeover bid on Applus at 9.75 euros per share

MADRID, 14 Sep. (EUROPA PRESS) -

The ISQ and TDR funds, through their joint venture Amber, have announced this Thursday a takeover bid for all of Applus's shares at a price of 9.75 euros per share, therefore higher than the Public Acquisition Offer. (OPA) at 9.50 euros per share launched by Apollo at the end of June and at the price at which the Spanish company's shares closed yesterday (9.45 euros)

Amber's voluntary takeover bid is directed at 129,074,133 shares of Applus, representing 100% of the share capital, which means valuing the company at more than 1,258.4 million euros.

In a communication sent this Thursday to the National Securities Market Commission (CNMV), Amber specifies that the offer will be paid in cash in its entirety and that it has "the necessary debt and capital commitments" to meet the consideration offered to the Applus shareholders.

Amber considers that the price offered, 9.75 euros per share, meets the legal requirements of "fair price." For these purposes, it has appointed Kroll Advisory as an independent expert to issue a valuation report justifying the price of the offer.

In any case, Amber defends that its offer is 4.95% higher than the trading price of Applus shares at market close on June 28, 2023, the last trading day immediately prior to the submission of the request for the rival takeover bid, that of Apollo.