Brazil’s Moreira Salles family has proposed a takeover for Verallia, offering 30 euros per share, valuing the company at 6.1 billion euros. The bid follows positive earnings reports and plans to conclude by mid-2025, with assurances of job preservation and continued listing post-acquisition.
The Moreira Salles family from Brazil has initiated a takeover bid for the French bottler Verallia, indicating an offer to purchase all outstanding shares at 30 euros each, which totals an enterprise value of 6.1 billion euros. This announcement follows a previous statement from BW Gestao de Investimentos (BWGI), under the Moreira Salles holding company Brasil Warrant Administracao de Bens e Empresas (BWSA), expressing intentions to acquire Verallia where they currently hold approximately a 28.8% stake.
In February, BWGI announced plans to make a bid contingent upon Verallia’s annual financial results. Following the company’s report of adjusted core earnings slightly above expectations for 2024, and positive projections for 2025 alongside increased free cash flow, BWGI feels confident in proceeding with its offer. It is anticipated that the initial offer period will conclude by the end of the first half of 2025.
Importantly, BWGI has clarified that it does not intend to delist Verallia post-acquisition and assures that the takeover will not result in any job reductions. BWGI remarked, “In a complex environment, BWGI’s objective is to reinforce the stability of Verallia,” reflecting its commitment to preserving the company’s integrity and operational stability in the face of market complexities.
Representatives for Verallia have yet to comment on this takeover bid, leaving the market eager for further updates regarding the transaction and its implications.
The Moreira Salles family’s takeover bid for Verallia signifies their strategic intent to expand ownership while maintaining stability within the company. BWGI’s planned acquisition reflects a robust confidence in Verallia’s financial health and future profitability. Their assurances against job cuts and plans to keep the company listed indicate a careful approach to the takeover, fostering investor and employee confidence amidst market dynamics.
Original Source: www.tradingview.com
