France's Loxam Buys Control of Brazil's Mills for R$3.8B
5 Articles
5 Articles
France's Loxam Buys Control of Brazil's Mills for R$3.8B
Brazil · Mergers Key Facts —The deal: Loxam agreed on May 25 to buy a 50.3 percent control stake in Mills, valuing the firm near R$3.8 billion ($760 million). —The price: The agreed R$16 ($3.20) per share is a 22 percent premium over the May 22 close. —Tender to follow: Loxam must then launch a […] The post France’s Loxam Buys Control of Brazil’s Mills for R$3.8B appeared first on The Rio Times.
The appetite for the consolidation of its presence in the domestic market had already been demonstrated in 2023
The French equipment rental group is about to take control of the Brazilian group Mills, buying the stake of its reference shareholders. It will then launch an OPA on the balance of the capital and hopes to remove the company from the Brazilian quota.
Loxam agreed to buy the shares of Mills at 16.00 reais (US$3,20) each, which is a 22% premium on its Friday closing quote
Mills informed on Monday (25) that its controlling shareholders signed a contract for the sale of their entire stake in the company – equivalent to 50.3% of the share capital – to Loxam, a French company in the leasing segment of machinery and equipment. In fact, relevantly sent to the CVM (Mobile Securities Commission), the company that Loxam undertook to buy the shares of the control block for R$ 16.00 per share, a value that represents a 22% …
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