Thr March family has agreed to delist the Spanish holding through a takeover bid at a price of €84.20 per share in cash, which represents a premium of 79.5% compared to the closing price of €46.90 per share. This offer exceeds the historical maximum reached in 2007 (€60.70 per share). The takeover bid will be presented by the company along with Carlos March Delgado, its president and largest shareholder with 21%, and his company Son Daviú, which is controlled by him.
The delisting will be approved at the extraordinary meeting to be held in mid-January next year and is justified, according to the company itself, by ‘the low liquidity of Alba’s shares in the stock market.’
The delisting is supported by both the board of directors (which represents 76.35% of the shares) and the other shareholders, reaching a total of 94.46% of the capital. All of them will suspend their shares until the closure of the takeover bid. Therefore, the public offer is directed at 5.54% of the share capital (more than 3.43 million shares), which will represent an investment of over €281.2 million.
Corporación Financiera Alba reported a net income of €92 million in the first half of 2024.
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