April 18, 2021

Fridman moves tab and presents a takeover bid for 100% of Dia at 0.67 euros per share

Fridman moves tab and presents a takeover bid for 100% of Dia at 0.67 euros per share


MadridUpdated:

Mijail Fridman, Day's top shareholder, has announced in a Relevant event submitted to the CNMV the presentation of a public offer to acquire shares (OPA) over 100% of the supermarket chain (of which it already owns 29%) at a rate of 0.67 euros per share, which means valuing the company at 417 million and a premium of 56% compared to the close of Monday.

In addition, he commits himself to implement a rescue plan to guarantee the future of DIA with the subscription of a capital increase of 500 million euros after the liquidation of the OPA.

According to the announcement of OPA issued on Tuesday, the operation will be launched through L1R Invest1 Holdings, a company domiciled in Luxembourg, and will be directed to all the shares in which the share capital of DIA is divided (622.4 million), including treasury stock (10.3 million) and excluding those already held by the offeror, owner of 29,001% of the company (180 million shares). Therefore, the offer will be directed from effective form to the acquisition of 70.999% of the capitall of DIA.

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