The Board of Directors of the CMVM has lifted the suspension of trading of Martifer – SGPS, SA shares following the release of significant market information, as stated in a note on the regulator’s website.
Visabeira Indústria SGPS has launched a takeover bid for the entire share capital of Martifer — SGPS.
In the preliminary announcement of this offer, published by the CMVM, Visabeira states that the offer is general and mandatory due to the offeror having entered into a shareholder agreement with I’M – SGPS and Mota-Engil, SGPS regarding the terms and conditions that should govern their relationships as shareholders of the target company.
The consideration offered per share “is equal to or slightly above the weighted average price of the shares traded on a regulated market during the six months preceding the date of publication of this preliminary announcement (specifically, it is 2.057 euros per share – rounded up to the nearest cent if necessary for each shareholder).”
Currently, Visabeira Indústria, I’M (of brothers Carlos and Jorge Martins), and Mota Engil together hold 87.4% of voting rights in Martifer.
In Martifer’s share capital, Visabeira Indústria has a 25.2% stake, I’M holds 25%, and Mota Engil owns 37.5%.
Following this announcement, the Board of Directors of the CMVM had previously decided to suspend trading of Martifer – SGPS, SA shares “to ensure the market fully absorbs the information disclosed by the issuer”.
