Moreira Salles Family Proposes Takeover of French Bottler Verallia

The Moreira Salles family from Brazil has initiated a takeover bid for the French bottler Verallia, offering 30 euros per share, which values the company at 6.1 billion euros. They intend to close the offer by mid-2025 and have pledged not to delist Verallia or make job cuts, focusing on stabilizing the company.

The Moreira Salles family from Brazil has announced a takeover bid for the French bottler Verallia, aiming to acquire all shares it does not currently possess. They plan to offer 30 euros ($32.51) per share, giving the company a total valuation of 6.1 billion euros. The family’s investment arm, BW Gestao de Investimentos (BWGI), owns approximately 28.8% of Verallia.

In February, BWGI expressed its desire to enhance its ownership of Verallia but decided to wait until the company released its full-year results before making a formal offer. After reviewing Verallia’s financial report, which indicated adjusted core earnings (EBITDA) exceeding expectations for 2024 and anticipated similar profits in 2025, BWGI has moved forward with the takeover bid.

The company has indicated that it expects the offer period to conclude by the end of the first half of 2025. Furthermore, BWGI has committed to retaining the company’s listing and has stated that the acquisition will not involve any job reductions. In a formal statement, BWGI remarked, “In a complex environment, BWGI’s objective is to reinforce the stability of Verallia.”

At this time, representatives from Verallia have not provided available comments regarding the bid from the Moreira Salles family.

In summary, the Moreira Salles family’s takeover bid emphasizes their commitment to enhancing their stake in Verallia, with a notable offer price reflecting confidence in the company’s future. The decision to maintain Verallia’s listing and avoid job cuts reaffirms their intention to support stability during a challenging economic environment. The expected timeline for the bid’s closure highlights the family’s strategic approach to this acquisition.

Original Source: www.tradingview.com