2023-05-19 11:45:37
The Moroccan Capital Market Authority (AMMC) has declared admissible the draft public purchase offer (OPA) initiated by Financière Clasquin Euromed on TIMAR shares at a unit price of 385 dirhams, indicates the Authority on its website .
This takeover bid, as a reminder, relates to all the shares not held by Financière Clasquin Euromed and by its parent company Clasquin SA. Thus, the offer relates to a total of 108,927 shares, representing 36.18% of Timar’s capital and voting rights. The filing of the proposed takeover bid followed the acquisition by Financière Clasquin Euromed of 63.52% of Timar’s share capital and voting rights, thus crossing the threshold of 40% of voting rights, making filing mandatory of a public takeover bid.
In its admissibility decision, the AMMC claims to have examined the characteristics of the proposed offer with regard to the principles set out in Article 13, and in particular the principles of transparency and equal treatment of shareholders. In this regard, the Autorité noted that the criterion of equal treatment is respected insofar as the offer targets all holders of Timar shares not held by the initiator of the takeover bid. The AMMC also considered that the methods used fall under “objective, significant and multiple” evaluation criteria.
The AMMC will ask the Casablanca Stock Exchange to resume trading the value of Timar on May 22, concludes the same source.
As a reminder, Timar is a Moroccan group listed on the Casablanca Stock Exchange, directly present in Europe, the Maghreb and West Africa, specializing in international transport, logistics and the transit of goods.
Created in 1980, in 2021 it achieves more than 540 million dirhams in consolidated turnover and a net profit group share of 12.3 million dirhams. It is made up of 13 subsidiaries located in Morocco, France, Portugal, Spain, Tunisia, Mauritania, Mali, Senegal and Côte d’Ivoire, and has 450 employees.
1684501003
#Stock #market #AMMC #green #light #Clasquin #groups #takeover #bid #Timar #shares