The Moreira Salles family launched a takeover bid for Verallia at 30 euros per share, valuing the company at 6.1 billion euros. BW Gestao de Investimentos, already a stakeholder, plans to finalize the offer by mid-2025 while ensuring no job cuts or delisting occur, aiming instead to enhance Verallia’s stability.
The Moreira Salles family from Brazil has announced its intention to initiate a takeover bid for the French bottler Verallia. The bid proposes a price of 30 euros ($32.51) per share for all outstanding shares, resulting in a total valuation of 6.1 billion euros for Verallia.
BW Gestao de Investimentos (BWGI), part of the Moreira Salles holding company Brasil Warrant Administracao de Bens e Empresas (BWSA), had expressed interest in purchasing Verallia since February, currently holding approximately 28.8% of the company’s shares. The final decision on the bid was contingent upon the release of Verallia’s full-year financial results.
Subsequent to the release of those results, Verallia reported adjusted core earnings (EBITDA) for 2024 that slightly surpassed market expectations, and it anticipates similar profit levels to continue into 2025, along with a notable increase in free cash flow generation.
BWGI anticipates concluding the initial offer period by the end of the first half of 2025, emphasizing its commitment to maintaining Verallia’s operational status without plans for delisting or job reductions. Their overarching goal is to enhance the company’s stability amid challenging market conditions.
There has been no immediate response from Verallia representatives regarding this takeover bid.
The Moreira Salles family’s takeover bid for Verallia seeks to bolster the company’s market position without disrupting its current operational structure. With a valuation of 6.1 billion euros, this strategic move aims to provide financial stability and support continued profitability for Verallia in the coming years.
Original Source: www.tradingview.com
