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Gómez-Acebo & Pombo advises Zardoya Otis in the takeover bid launched by Otis
23 of September, 2021
Gómez-Acebo & Pombo advises Zardoya Otis in the takeover bid launched by the parent company Otis Group for the 49.99% it does not control of its Spanish subsidiary, with the aim of delisting it from the Stock Exchange.
Zardoya Otis is listed on the Continuous Market and has a market capitalisation of 2,517 million euros. The offer price represented a premium of around 30.8% over the price at which Zardoya Otis closed yesterday (5.35 euros, up 0.75% on the stock market) and 28.9% over the volume-weighted average price in the month to 22 September (5.43 euros).
Otis, the parent company, controls 50.01% of the share capital of Zardoya Otis S.A. (ZOSA) and 50.01% of the share capital of Zardoya Otis S.A. (ZOSA). (ZOSA) and 50.07% of the voting rights, indirectly through its wholly owned subsidiary Alder Holdings (AH), so the offer is aimed at the 49.99% it does not control, i.e. 235.184 million shares.
The GA_P team was formed by Guillermo Guerra, Corporate partner, Santiago Gómez Acebo, Banking partner, Jacobo Palanca, Corporate associate and José Francisco Canalejas, Banking associate.
See complete article in CincoDías
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See complete article in El Confidencial
Zardoya Otis is listed on the Continuous Market and has a market capitalisation of 2,517 million euros. The offer price represented a premium of around 30.8% over the price at which Zardoya Otis closed yesterday (5.35 euros, up 0.75% on the stock market) and 28.9% over the volume-weighted average price in the month to 22 September (5.43 euros).
Otis, the parent company, controls 50.01% of the share capital of Zardoya Otis S.A. (ZOSA) and 50.01% of the share capital of Zardoya Otis S.A. (ZOSA). (ZOSA) and 50.07% of the voting rights, indirectly through its wholly owned subsidiary Alder Holdings (AH), so the offer is aimed at the 49.99% it does not control, i.e. 235.184 million shares.
The GA_P team was formed by Guillermo Guerra, Corporate partner, Santiago Gómez Acebo, Banking partner, Jacobo Palanca, Corporate associate and José Francisco Canalejas, Banking associate.
See complete article in CincoDías
See complete article in Expansión
See complete article in El Confidencial
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