Applus positively values ​​​​Amber's counter-bid by offering a higher price than Apollo

MADRID, 15 Sep. (EUROPA PRESS) -

The board of directors of Applus has positively valued the takeover bid at 9.75 euros per share launched by the private investment funds ISQ and TDR through their joint venture Amber, by offering a higher price than the Public Acquisition Offer (OPA). ) launched by Apollo in June on 100% of the company, at 9.50 euros per share.

According to a statement sent this Friday by the Spanish company to the National Securities Market Commission (CNMV), Amber's takeover provides Applus shareholders "the option to monetize their investment in the company with a premium over the listing price unaffected of the shares and at a higher price" than that of the Apollo takeover.

However, the board of directors of Applus, "after receiving the appropriate financial and legal advice", will issue a report expressing its opinion on Amber's takeover bid once it is authorized by the CNMV and within ten days following the start. of the offer acceptance period.

Applus has reported that, after signing a confidentiality agreement with Amber, it provided her with access to non-public information about the company so that it could evaluate the launch of its counter-takeover bid.

Applus has also assured that, within the legal limits and the duties of diligence and loyalty of the directors, it will provide "reasonable assistance" to Amber in relation to compliance with the conditions regarding the defense of competition and foreign investments of its offer, as well as its financing, including any possible syndication thereof, and any other procedure that may be required in the context of the operation.

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.

Amber considers that the price offered in its takeover bid, which is 2.63% higher than that of Apollo, meets the legal requirements of "equitable price". For these purposes, it has appointed Kroll Advisory as an independent expert to issue a valuation report justifying the offer price.

The price of Applus shares soared this Thursday by 4.39% at the close of the trading day, up to 9.87 euros per share, a figure above the price offered by both Amber (9.75 euros per share) and by Apollo.