Inmolevante Receives Permission For Exclusion Takeover Bid

11/04/2014 – La Vanguardia

The National Stock Exchange Commission (CNMV) has given approval to exclusion takover bid offer for assets of Inmoevante, proposed by the company itself.

The offer refers to 5.4 million shares of the firm´s social stake sold on Madrid´s Stock Exchange. (…) It excludes 5.1 million shares that represent 94.56% of Inmolevante´s capital. They belong to several shareholders from household members Fernández-Ordás and the firm itself and have been already tied-up.

The offer effectively addresses acquisition of  294.429 shares that form 5.44 % of the capital. The price is 10.80 euros per share. (…) As a guarantee, Inmolevante deposited €3.1 million in Caixabank and now will have to wait for 30 calendar days (…). Once the operation liquidated, the shares will be excluded from the Stock Exchange.



Original article: La Vanguardia 

Translation: AURA REE