Brazil’s Moreira Salles family plans to acquire French bottler Verallia, offering 30 euros per share, valuing the company at 6.1 billion euros. They aim to finalize the bid by mid-2025 without intending to delist or cut jobs, focusing instead on stabilizing the firm amid market complexities.
The Moreira Salles family from Brazil has announced a takeover bid for Verallia, a French bottler, proposing to acquire all outstanding shares for 30 euros each, totaling a valuation of 6.1 billion euros. Currently, the family’s investment vehicle, BW Gestao de Investimentos (BWGI), holds a 28.8% stake in Verallia and first expressed interest in a buyout in February, contingent on the company’s yearly financial results.
In late February, Verallia reported adjusted core earnings (EBITDA) slightly exceeding market expectations for 2024, projecting stability in profit margins for 2025 and a significant increase in free cash flow. BWGI anticipates that the initial offer period will conclude towards the end of the first half of 2025.
The investment firm clarified that it does not intend to delist Verallia and assured stakeholders that the takeover would not result in any job cuts. BWGI emphasized its goal to stabilize Verallia amidst current market challenges in its official communication. Notably, representatives from Verallia have not yet provided a statement regarding the bid.
The Moreira Salles family’s pursuit of a complete takeover of Verallia reflects their commitment to enhancing stability and growth within the company. With a significant existing stake and increased financial expectations from Verallia, the proposed bid is positioned to fortify their investment without sacrificing employee security. This strategic move underscores the family’s ongoing interest in the European market, particularly within the bottling industry.
Original Source: www.tradingview.com
