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BRIEF-Bridge Management's main shareholder launches tender offer for company
October 13, 2016 / 9:26 AM / a year ago

BRIEF-Bridge Management's main shareholder launches tender offer for company

Oct 13 (Reuters) - Bridge Management SpA :

* Said on Wednesday its main shareholder, Bridge Management & Co Srl, will launch a voluntary tender offer on 183,032 of the company’s shares, representing 28.6 percent of its share capital

* The price for Bridge Management SpA shares is 2.9 euros ($3.25) per tendered share

* Bridge Management & Co Srl holds 456,520 of the company’s shares, representing 71.4 percent of its share capital

* Bridge Management & Co Srl does not intend to restore the company’s free float if it reaches a stake of more than 90 percent

* At the end of the tender offer, Bridge Management & Co Srl will ask the company’s board to decide on the delisting of the company

* Bridge Management & Co Srl will not avail itself of the right to buy the remaining shares in the company if it reaches a stake of more than 90 percent

* The aim of the tender offer is to allow minority shareholders to disinvest, taking into consideration the current volatility and instability of financial markets

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$1 = 0.8928 euros Gdynia Newsroom

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