The Spanish Securities Commission (CNMV) has authorised Borges International Group, S.L.U.’s delisting tender offer for Borges Agricultural & Industrial Nuts, S.A., allowing the shares to be removed from trading once the offer is settled. The offer, filed on 5 March 2025, is formally addressed to 23,140,460 shares but excludes 20,644,805 shares (89.22%) that are immobilised and held by the bidder and the company as treasury stock, leaving 2,495,655 shares (10.78%) effectively targeted. The price is EUR 3.48 per share, set in accordance with Article 65 of the Securities Markets and Investment Services Law and Article 10 of the Royal Decree on takeover bids, with a valuation report included in the prospectus. The bid is unconditional and is backed by a Banco Bilbao Vizcaya Argentaria, S.A. bank guarantee of EUR 8,684,879.40. The acceptance period will be 15 calendar days from the first stock-market business day after publication of the first announcement setting out the offer’s essential terms, ending on a stock-market business day. The shares will be delisted when the transaction is settled, or, if the requirements are met and the bidder exercises it, when any compulsory squeeze-out is settled; the prospectus and supporting documents will be available in the CNMV’s public registers from at least the business day after the first announcement.
Spanish Securities Commission (CNMV) 2025-03-20
Spanish Securities Commission authorises Borges International Group’s EUR 3.48 per share delisting tender offer for Borges Agricultural & Industrial Nuts
The Spanish Securities Commission (CNMV) has authorized Borges International Group, S.L.U.'s delisting tender offer for Borges Agricultural & Industrial Nuts, S.A., targeting 2,495,655 shares at EUR 3.48 per share. The offer is unconditional, backed by a bank guarantee of EUR 8,684,879.40, and excludes 89.22% of shares held by the bidder and as treasury stock. The shares will be delisted once the transaction is settled.