Euronextthe company that manages seven European stock markets, announced today that it has submitted an offer to take over the Spanish investment fund platform Allfunds.
In response to “recent speculation in the pressEuronext confirmed in a statement that “has submitted an indicative offer to the Allfunds board and is in active discussions with the major Allfunds shareholders.”
“The indicative offer is currently under study by the Allfunds board and Euronext reserves the right to modify its terms”, added the statement, which stresses that “There is no certainty that an offer will take place” formal.
According to the Spanish economic newspaper Cinco Días, the French company is offering 8.75 euros for each Allfunds share, which would value the Spanish group at 5.5 billion euros.
This offer would be made up of a tranche in cash, of 5.69 euros per share, and another tranche in shares, of 0.04059 new Euronext shares for each one of Allfunds, adds the media.
Allfunds is listed on the Amsterdam Stock Exchange, with 47.19% of its shares on the market and the rest in the hands of its strategic investors. Its current stock market valuation is around 5.5 billion euros.
Euronext, which brings together the Paris, Amsterdam, Milan, Brussels, Lisbon, Dublin and Oslo stock exchanges, achieved a net profit of 437.8 million euros last year (5.9% more) after increasing its turnover by 9.3% to the 1,418.8 million.
Source: EFE
Source: Gestion
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