Brief: GCE BidCo Launches Takeover Bid For Opdenergy For Up To 866 Mln Euros

Opdenergy Holding SA

12/06/2023 06:13

June 12 (Reuters) - GCE BidCo, S.L.U:
    * ANNOUNCEMENT PRIOR TO REQUEST FOR AUTHORISATION OF
LAUNCHING OF
VOLUNTARY TENDER OFFER BY GCE BIDCO FOR ACQUISITION OF SHARES OF
OPDENERGY HOLDING  OPDE.MC 
    * THE OFFER IS STRUCTURED AS A SALE AND PURCHASE OF SHARES
    * THE CONSIDERATION OFFERED BY THE BIDDER TO THE HOLDERS OF
SHARES
OF THE TARGET COMPANY IS EUR 5.85 IN CASH FOR EACH SHARE
    * MAXIMUM TOTAL AMOUNT TO BE DISBURSED BY THE BIDDER IS EUR
866.0
MILLION
    * THE CONSIDERATION WILL BE PAID ENTIRELY IN CASH
    * SELLING SHAREHOLDERS HAVE UNDERTAKEN TO ACCEPT OFFER TO
SELL ALL
OF THEIR SHARES IN OPDENERGY, I.E., 105.4 MILLION SHARES
REPRESENTING 71.187% OF OPDENERGY’S SHARE CAPITAL
    * MINIMUM ACCEPTANCE CONDITION WILL BE MET IF, IN ADDITION
TO
SELLING SHAREHOLDERS, SHAREHOLDERS HOLDING 5.6 MILLION SHARES
REPRESENTING 3.813% OF SHARE CAPITAL OF OPDENERGY ALSO ACCEPT
OFFER
    * CONSUMMATION OF TRANSACTION RESULTING FROM SQUEEZE-OUT
RIGHT TO
GIVE RISE TO DELISTING OF SHARES OF TARGET COMPANY FROM SPANISH
STOCK MARKETS
    * SAID DELISTING WILL BE EFFECTIVE FROM THE DATE ON WHICH
THE
SQUEEZE-OUT TRANSACTION IS SETTLED
    * DELISTING OF TARGET COMPANY’S SHARES TO TAKE PLACE AS SOON
AS
POSSIBLE AFTER APPROVAL OF GENERAL SHAREHOLDERS’ MEETING OF
OPDENERGY
    * DELISTING WITHIN A MAXIMUM PERIOD OF SIX MONTHS FOLLOWING
THE
SETTLEMENT OF THE OFFER

Source text for Eikon:  ID: 
Further company coverage:  OPDE.MC 

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