Spanish Securities Commission authorises CIE Automotive voluntary partial self-tender for up to 9.68% of shares at EUR 24

The Spanish Securities Commission (CNMV) has authorised CIE Automotive, S.A.’s voluntary partial offer to purchase its own shares, intended to provide shareholders with an additional, time-limited liquidity option while the company remains listed. The offer covers up to 11,591,517 shares, representing 9.68% of CIE’s share capital, at a cash price of EUR 24 per share. If fully accepted, and combined with the 0.07% already held, CIE would reach 9.75% in treasury shares, with an intention to place the acquired shares within a maximum of 24 months to increase free float, currently 28%. The offer is unconditional and is backed by three bank guarantees totalling EUR 278,196,408 from HSBC Continental Europe (EUR 140,000,000), Commerzbank AG, Spain branch (EUR 100,000,000) and Kutxabank, S.A. (EUR 38,196,408); as a voluntary offer, the price was set by the bidder and was not assessed as an equitable price under the cited Spanish securities legislation. The acceptance period will be 15 calendar days starting from the first stock market business day after publication of the first announcement with the essential terms. Proration will follow the linear-then-proportional allocation method set out in Article 38.1 of Royal Decree 1066/2007, and no squeeze-out or sell-out procedures apply because this is a partial offer made by the company for its own shares; the prospectus and supporting documents will be accessible via the CNMV public registers from at least the next stock market business day after the first announcement.