JPMorgan Chase has warned its participation in up to 4 points, in Applus+, reaching 5.026%. According to data from the National Securities Market Commission (CNMV) and collected by ‘Europa Press’, before this operation, it controlled around 1.125%. The shareholding package in Applus+ is made up of 6.48 million company shares and its market value is around 63 million euros.
This movement by JPMorgan Chase occurs in full swing of the takeover bid (OPA) launched last June by the Apollo fund for 100% of Applus+ and for an import of 1,226 million euros (9.5 euros per share in cash).
Last Monday, the CNMV admitted Apollo’s takeover bid for Applus+ for processing, although this does not imply a pronouncement by the body “on the resolution regarding the authorization of the offer” or “any of its terms and conditions”. Since the announcement of the takeover bid on June 30, there have been various movements in the share capital of Applus+ by different funds and entities.
Mostly indirect holdings
Among them are the operations carried out by the Sand Grove Opportunities Master Fund, Samson Rock Capital, Victory Capital Management and the Swiss bank Zurcher Kantonalbank, which have raised stakes of more than 1% in the Spanish inspection, testing and certification firm.
Added to these are the movements of the British financial institution Barclays, which raised 2.153% in the company’s share capital, and the French banking group BPCE, which declared a 1.39% stake in Applus+ through its subsidiary Natixis (a financial institution that BPCE controls almost 99%).
Likewise, the German asset manager DWS Investment, controlled by the German bank Deutsche Bank, has carried out various operations in recent weeks and currently holds a 4.991% stake, while Harris Associates has 2.959% and Norges Bank owns 1.832%.
However, the most active has been the US investment bank Morgan Stanley, which since June 30 has carried out various operations, according to the records of the CNMV. Currently, the financial entity owns 9.363% of the shares of Applus+, when before the announcement of the takeover bid it held 6.12%.
In this sense, the company’s shares have been trading for weeks above the 9.5 euros offered by the fund. In this context, Applus+ will arrive this Tuesday, July 25, with its results for the first half of the year.
