Council of Ministers unconditionally authorises Bondalti’s takeover bid for Ercros


Link Securities | In relation to the application for authorisation of the voluntary takeover bid launched by Bondalti (the Bidder) for all the shares of Ercros (ECR), filed and published on 5 March 2024, which was admitted for processing by the National Securities Market Commission (CNMV) on 20 March 2024, Ercros hereby states that the Council of Ministers resolved, at its meeting of 11 June 2024, following a favourable report from the Foreign Investment Board, to authorise unconditionally the foreign investment of the Offeror and its final investor in the Spanish company Ercros. The aforementioned authorisation, in accordance with article 26.2 of Royal Decree 1066/2007, of 27 July, on the takeover bids regime, was required prior to the authorisation of the Offer by the CNMV.

Consequently, the prior authorisation provided for in section 9 of the aforementioned application for authorisation of the Takeover Bid has been obtained. With regard to the condition to which the effectiveness of the takeover bid referred to in section 10 (iii) of the request for authorisation thereof was subject, consisting of the authorisation or, as the case may be, non-opposition by the European Commission (EC) in accordance with the Foreign Subsidies Regulation, Ercros informs that it has been found that the requirements for this authorisation have not been met and, therefore, this condition has lapsed.

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