Apollo signs contracts to buy 21.85% of Applus and raises the price of its takeover offer to €10.65 per share.

The American Apollo fund, through its instrumental company Manzana Spain BidCo, signed contracts purchase and sale with Applus shareholders to acquire up to 28.2 million shares companies, representatives 21.85% of the authorized capitalat a price of 10.65 euros per share, which would mean a maximum cost of 300.3 million euros for this shareholding.

The signing of these contracts implies that the price of the voluntary public acquisition offer (OPA) put forward by Apollo for 100% of the shares of Applus automatically increases to 10.65 euros per title., compared to the previous 9.5 euros, representing an improvement in relative terms of 12.1%. The €10.65 that Apollo will now offer as part of its takeover bid implies a premium of 3.9% to the price at which Applus shares closed on Tuesday (€10.25).

As the National Securities Market Commission (CNMV) clarified this Wednesday, Apollo has signed four purchase and sale contracts with holders of Applus shares and another eleven contracts with holders of derivatives on Applus shares. Under these contracts, the American fund undertakes to purchasesubject to compliance with certain suspensive conditions, 28,204,123 Applus shares, which is 21.85% of the authorized capital. This participation will take effect upon settlement of the sales transactions.

Apollo Takeover Bid was authorized CNMV January 17then at a price of 9.5 euros per share in cash, giving a total amount of 1,226.2 million euros.