The majority shareholder and president of Prosegur, Helena Revoredo, has made official her 73.13% stake in Prosegur’s capital, and although the threshold is below the 75% that she aspired to control with the public takeover offer of shares (OPA) that it launched on the Spanish security company. The operation was validated by 13.23% of the shareholders.
Revoredo has thus increased its stake from 59,799% to 73,133% in Prosegur, controlling a total shareholding package of 398,597,015 shares, which according to the current market price are valued at 640.9 million euros. All in all, Prosegur shares rose 0.38% on the stock market this Friday around 11:30 a.m., with the shares trading at 1,608 euros.
In this context, the partial takeover bid presented by Gubel, a company controlled by Revoredo, majority shareholder and president of Prosegur, for 15% of the security company for up to 149.6 million euros, has been accepted by 13.23%. of the shareholders. In total, the takeover bid has been backed by more than 72.12 million shares, which represents 13.23% of the company’s share capital, as reported by the CNMV.
Operation through Gubel
Revoredo, through Gubel and its subsidiary wholly owned by Prorevosa, is the direct and indirect owner of 59.899% of Prosegur’s share capital and 61.445% of its voting rights, excluding treasury shares, therefore, upon completion The OPA finally controls more than 73% of the security company, below the 75% that it aspired to control with this operation.
At the end of February, the supervisor gave the ‘green light’ to the OPA, considering its terms to be “adjusted” to current regulations and considering the content of the explanatory brochure presented to be “sufficient”, following the latest modifications registered on February 12, 2024.
The CNMV authorized the partial takeover bid
The CNMV agreed to authorize the partial takeover bid for the acquisition of transactions of the Prosegur Entity presented by Gubel on December 12, 2023 and admitted for processing on December 21, 2023. The Supervisor detailed that the partial bid extended to the acquisition of the maximum number of 81,754,030 Prosegur shares representing 15% of its share capital made up of 545,026,866 shares, admitted to trading on the Madrid and Barcelona Stock Exchanges and incorporated into the Stock Market Interconnection System.
Likewise, it addressed all share holders except the offeror, who directly and indirectly owns 326,468,224 Prosegur shares, representing 59.90% of the capital. The CNMV stressed that the offer price was 1.83 euros per share and would be paid in cash, while precisely that this price had been freely set by the offeror.
