MILAN – While on the Paris-Rome will discuss the big moves that affect the telecommunications sector and the media, with all Telecom and Mediaset ‘ interior of a continent-wide risiko, Campari has reached an agreement with the family that controls the Societe des Produits Marnier Lapostolle (SPML), owner of the brand Grand Marnier, to detect the 17.19% and launch a tender offer at a price of 8,05 euro per share on the shares on the market. Target of Campari is the withdrawal of the license from the Paris Stock Exchange, while the Italian action is in positive territory in the face of a weak list. The tricolor group, a few days away from the acquisition of carte Noire by Lavazza, so it is ready to shell out an implicit value of 684 million for the capital of SPML companies, with the exception of the sale of a property in ST. ., And an implied enterprise value of 652 million euro (considered that the net financial position of pension plans and other items) Jean Cap Ferrat. The house in question is a jewel on the coast between Nice and Monaco, complete with a park, in one of the most expensive areas of the world. Neighbors recalled Bloomberg , are Paul Allen of Microsoft and the Ferrero family. The prices per square meter can reach the staggering figure of 200 thousand euro. The intention of Campari is to split the proceeds from the sale to shareholders, but will have to find a buyer quite wealthy. The villa owned by the founding family of Grand Marnier, passing into the hands of Campari with the rest of the group “We are honored to strengthen the alliance between the family of SPML controlling shareholder and Campari. with the brand Grand Marnier, we add a premium product and a distinctive brand to our portfolio of global priority brands, which makes it possible to enrich our product mix and further consolidate our position as the leading provider of premium liqueurs and bitters specialties worldwide, “said CEO Bob Kunze-Concewitz. “With the acquisition of Grand Marnier – we added the CEO – we continue to implement our strategy of acquisitions in a very disciplined and consistent, financially and otherwise, as we consolidate a brand with high margins and cash generation, we expect have an immediate accretive effect on existing business. “ the Campari prey has secular life, as it was founded in 1827 in Paris. Its symbol liqueur dates back to 1880, when Luis-Alexandre Marnier Lapostolle, a descendant of the founder, I mix the cognac with the orange. Listed in Paris, it capitalizes 427 million and closed 2015 with revenues of just over 150 million and EBITDA of 30.8 million. The Grand Marnier and other trademarks related to it generate the vast majority of sales (85% of revenues). The factory in Normandy, French products ranging for 92% outside the country, with the United States to represent by far the biggest market.
the transaction is structured to next steps. It expected to Campari purchases immediately 17,19% in full in full ownership, 1.06% in bare ownership and 1.54% beneficial interest in the capital of SPML. Then, from 2021, the acquisition (governed by call / put options) of all remaining shares held by the family shareholders, ie 26.6% in the full ownership and to 2.24% in the bare ownership. And ‘meanwhile, plans to launch a public tender offer on the remaining shares of SPML at a price of 8.0501 euro per share in cash (with a premium of 60.4%), plus an earn-out on the potential French sale of the property. If the takeover does not lead to the Campari absolute majority, the family has agreed to sell (before 2021), his actions and to give up their double voting rights to the extent necessary to allow Campari to acquire the SPML control. With the start of the purchases of shares by Campari, also started exclusive distribution of Grand Marnier in the world.
- Topics:
- Campari
- Milan Stock
- Italy
- france
- Grand Marnier
- Starring:
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