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3 months ago
BRIEF-HRD Italia to launch takeover bid on Gequity
May 24, 2017 / 6:37 AM / 3 months ago

BRIEF-HRD Italia to launch takeover bid on Gequity

May 24 (Reuters) - SINTESI SOCIETA DI INVESTIMENTI E DI PARTECIPAZIONI SPA:

* SAID ON TUESDAY ON BEHALF OF HRD ITALIA SRL (HRD) THAT HRD WILL BECOME OWNER OF A 50.5 PCT STAKE IN GEQUITY AFTER WINNING THE COMPETITIVE BIDDING PROCEDURE LAUNCHED BY SINTESI

* HRD WILL LAUNCH AN OBLIGATORY TAKEOVER BID ON THE REMAINING SHARE CAPITAL OF GEQUITY, A 49.5 PCT STAKE

* PRICE PER TENDERED SHARE TO BE IN LINE WITH THE ONE OFFERED FOR THE COMPETITIVE BIDDING PROCEDURE, WHOSE STARTING BID PRICE WAS EUR 0.011 PER SHARE

* HRD SPECIALIZES IN THE TRAINING AND DEVELOPMENT OF HUMAN RESOURCES

* HRD ACQUIRED A CONTROLLING STAKE IN GEQUITY AS IT CONSIDERS THE LISTING ON THE ITALIAN STOCK EXCHANGE A STRATEGIC OPPORTUNITY

Source text: reut.rs/2qeYpbx

Further company coverage: (Gdynia Newsroom)

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