Applus will finally exit the stock market after 10 years this Wednesday | Companies

The management companies of the stock exchanges of Madrid, Barcelona, ​​Bilbao and Valencia have decided to exclude from trading the shares of certification company Applus after the takeover proposal formulated by the I Squared and TDR funds through Amber was settled. According to these organizations, the National Securities Market Commission (CNMV) reported on Tuesday.

Applus games that have already been suspended from trading will be permanently removed from this environment. On November 15, the CNMV decided to temporarily suspend the listing of Applus until the final delisting is completed.

The Comptroller of the Stock Market made the decision after the delisting application submitted by I Squared and TDR through Amber expired. The no-takeover offer was ultimately accepted by 5.32% of Applus’ capital as the Apollo fund, which owns 21.8% of the shares, decided not to accept the offer. Following this transaction, Amber controls 77.7% of Applus’ capital.

Applus was the scene of one of the corporate battles of the year in the Spanish stock market. I Squared and TDR finally beat out Apollo, which was the first to bid for Applus. Apollo lost because its final offer (€12.51) was lower than Amber’s (€12.78). Despite Amber’s attempts to take over 100% of Applus following the completion of the first winning takeover bid, Apollo decided not to relinquish equity in the company.

By not selling its stake in Applus, Apollo will maintain its position in the company in this new stage outside the stock market and thereby avoid having to pay compensation to the funds that sold their stake in the company in February last year. over time, it will be able to receive a proportionate share of the 512 million euros in dividends that the Spanish firm plans to distribute. Apollo’s 21.85% stake will entitle it to almost €112 million of those dividends.

The certification company began its journey on the stock exchange in May 2014. At that time, it debuted with a cost of 14.5 euros. On the day of release, it increased by 4.48% to 15.15 euros per game. This figure valued the company as a whole at approximately 2,015 million euros. When CNMV froze trading, the shares were trading at €12.7, 12.41% below their exit price, while the company’s total value was paralyzed at €1.639 million.