Sofil (Lactalis) has announced a takeover bid for 12,6% of Parmalat's share capital not yet owned at 2,8 euros per share, with a premium of 8,5% on the December 23 stock market price. This can be read in a note in which it is indicated that the Offer has as its objective the revocation of the share from the stock exchange list in order to "continue to support the growth of the issuer", ie Parmalat itself.
The offer by Sofil, controlled by the Lactalis Group through the Bsa (Besnier family), concerns 287,3 million Parmalat shares not yet owned by the French group, including over 52,85 million shares destined for Collecchio creditors and the 7,03, XNUMX million shares to service the warrants. The Lactalis Group believes that "in the long term" the objective of supporting Parmalat's growth "can be more easily and effectively pursued with a restricted shareholder base, rather than with a widespread shareholder base, and in a situation, such as that deriving from the loss of the status of listed company, characterized by lower costs and greater managerial and organizational flexibility".
Furthermore, with the tender offer, the Besnier family intends to offer Parmalat shareholders "an opportunity to divest from a stock whose performance was characterized by a small average daily trading volume, against the limited free float resulting from the previous voluntary takeover bid in 2011”, which had led the Besniers themselves to control over 87% of Collecchio. For the moment, a merger of Parmalat with the company of the Lactalis group which is launching the offer has been excluded, given that to date - the French shareholders of Parmalat specify, "the programs of the Offeror and the Lactalis Group do not envisage merger operations involving the 'Issuer in the time period of 12 months from the payment date” of the transferred securities. (HANDLE)
The stock is up sharply in Piazza Affari and is 2,82 euros (+9,7%) at 10:31 in the morning.
