The Chinese group Cefc is "surprised and regretted" that the shareholders of Prelios - namely Pirelli, Intesa, Unicredit and Fenice - have rejected the binding offer presented on July 28 for the purchase of 44,86% of the company.
The group "deems Italy a strategic market for the development of its activities in a long-term perspective" and recalls that its offer incorporates a 10,48% premium compared to the price agreed on July 26 by the majority shareholders and Burlington.
Cefc underlines that it holds liquid assets equal to 65 million euros in its current account in Italy (at Banco BPM), a sum equal to approximately 91,6% of the total price offered to the majority shareholders.
Not only that: "Cefc Group - reads the note - communicates that it is ready to immediately transfer the additional 6 million to its current account in Italy to reach 100% of the coverage, if its offer is accepted, as well as to bind guarantee in favor of the majority shareholders an amount equal to that of the total price from the date of signing of the contract".
Furthermore, the Chinese group requests that full information be provided regarding the specific terms and conditions set out in the contract signed between the majority shareholders and Burlington in order to be able to evaluate (and possibly present) a new competing offer.
