Brazil’s Moreira Salles family has initiated a takeover bid for French bottler Verallia, offering 30 euros per share to acquire the remaining stake, valued at 6.1 billion euros. BW Gestao de Investimentos currently holds about 28.8% of the company and expects the offer to close in mid-2025, while committing to maintain company stability and avoid job cuts.
The Moreira Salles family of Brazil announced its intention to initiate a takeover bid for Verallia, a French bottling company. They plan to acquire the remaining shares at a price of 30 euros ($32.51) each, which values Verallia at approximately 6.1 billion euros. Currently, the Moreira Salles family, through BW Gestao de Investimentos (BWGI), holds around 28.8% of Verallia’s shares.
In February, BWGI signaled its interest in pursuing a complete acquisition, pending an assessment following Verallia’s full-year earnings report. The French company released strong adjusted core earnings (EBITDA) figures, slightly surpassing market expectations for 2024, and indicated expectations for consistent profit levels into 2025, accompanied by a noteworthy increase in free cash flow generation.
BWGI anticipates the bidding process to conclude by the end of the first half of 2025. Additionally, they have asserted that there are no plans to delist Verallia or implement job cuts, emphasizing their goal of enhancing the company’s stability. The statement underscores their commitment to a smooth transition during the acquisition process.
Verallia’s representatives were not immediately available for comments regarding the takeover bid.
The Moreira Salles family’s takeover bid for Verallia marks a significant strategic move to enhance their investment. With a valuation of 6.1 billion euros, the bid reflects confidence in Verallia’s performance potential. Despite the acquisition, BWGI is committed to maintaining company stability and avoiding job losses, ensuring a steady transition during this investment phase.
Original Source: www.tradingview.com
