SPAIN. Aldeasa’s new owners, the Autogrill/Altadis partnership Retail Airport Finance, is continuing to study its stated intention to delist the company from the Spanish stock exchange.
The partnership acquired 96% of the Spanish travel retailer earlier this year after offering €36.57 per share, valuing Aldeasa at €769.97 million – then just over US$1 billion.
The parties stated in their takeover brochure that the new shareholders’ intention was to delist the company. Subsequent to the successful acquisition, such a move would have to be approved by the shareholders at a general meeting. But the subject was not on the agenda at the General Shareholder Meeting on 27 June.
A spokesperson for Aldeasa told The Moodie Report: “We can tell you that the company is currently analysing the possibility of a delisting although until now we do not have a final decision regarding this point.”
Earlier this week, Dow Jones, quoting Spanish web-based financial newsletter Bolsacinco, said Aldeasa was preparing a delisting bid that would “likely” be above the original purchase price of €36.57 a share.
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