Link Securities | The Spanish Securities Market Commission (CNMV) has agreed to authorise the voluntary takeover bid for Catalana Occidente shares submitted by Inoc, S.A. on 28 April 2025 and admitted for processing on 16 May 2025, on the understanding that its terms comply with current regulations and considering the content of the explanatory prospectus and its annexes to be sufficient, following the latest amendments registered on 24 October 2025.
The offer is for 100% of the share capital of Catalana Occidente, comprising 120,000,000 shares, admitted to trading on the Madrid and Barcelona Stock Exchanges and included in the Stock Exchange Interconnection System, excluding shares representing 62.03% of its capital, which belong to the offering group and are immobilised.
Consequently, the offer effectively extends to the acquisition of 45,558,958 shares of Catalana Occidente, representing 37.97% of its share capital. The consideration for the offer is €49.75 per share in cash or, alternatively, the exchange of one newly issued class B share of Inoc, S.A. for every 43.9446 shares of Catalana Occidente, for a maximum of 8,000,000 shares of the affected company. In its analysis, the CNMV has taken into account the valuation report submitted by the offeror, which applies the valuation methods and rules of the Royal Decree, justifying the respective relevance of each of the methods used. The CNMV will announce the acceptance period for the offer when the offeror publishes the first of the announcements provided for in Article 22 of Royal Decree 1066/2007.
