SOTUVER has just announced that the company’s reference shareholders have accepted a non-binding offer from a major international glass packaging producer for the acquisition of a block of shares representing half of the current stake held by these reference shareholders, equivalent to approximately 41% of SOTUVER’s share capital.
The company stated in a press release that this transaction is part of a strategic partnership aimed at accelerating and strengthening SOTUVER’s development.
The valuation of SOTUVER, which will determine the unit price per share for the transaction, will be based on the company’s consolidated EBITDA and net debt, as finalized in the audited accounts at the end of December 2024 and validated by the results of acquisition audits to be conducted by the buyer.
As an indication, based on the provisional 2024 accounts, the share price including the 2024 dividend on which the transaction would be based is estimated at 13,480 dinars per share, subject to adjustments resulting from the acquisition audits.
The company clarified that the completion of this transaction is contingent upon the completion of the acquisition audits, the signing of standard contractual documents, and the obtaining of required administrative approvals.
The proposed timeline aims to finalize the transaction, if possible, by the end of the third quarter of 2025.
In accordance with market regulations, a takeover bid will be launched upon the completion of the block share transaction. The reference shareholders will join the buyer in this takeover bid by acquiring 50% of the shares to be purchased.
