Fund I Squared Capital confirms that it is considering launching a takeover bid for Applus

Price from Applausethe Galician concession company ITV, fell by around 2% this Monday after the US fund I Squared Capital confirmed that it intends to launch Download offer (takeover bid) of a Spanish company.

And Squared Capital — with the support of the British fund TDR — announced that it is studying the possibility of making an offer to take over all the shares of Applus, without making any decision yet. In a statement sent to the National Commission for the Securities Market (CNMV), at the request of the supervisor, I Squared and TDR state that they “had access to certain information” provided by Applus and emphasize that only “preparatory actions” were carried out. about a possible takeover bid without making any decision about its wording or its terms. “There is no certainty that I Squared Capital and TDR, individually or jointly, will make a public offer for the acquisition of Applus shares,” the statement concluded.

economic magazine Expansion announced last week that the I Squared fund is completing the offer for Applus for the eye 2000 million euros, at a price of 9.5 euros per title, and that they will negotiate the support of the British fund TDR Capital for the implementation of the operation. This information sent Applus shares up 4.85% on Friday, closing at €9.29 per share.

At the beginning of last May, Applus confirmed the existence of “non-binding and unsolicited patterns of interest” from some investors to buy the company for an amount exceeding 1,000 million euros.

As the Spanish company explained at the time, the investor requested access to review the information, but assured that there is still “no type of decision by any of the said investors or certainty that the said entities will perform any additional action.”

From May 3, just before the aforementioned announcement, to the stock market session on Friday, Applus shares rose in price by 22.4%, from 7.59 euros to 9.29.