The Financial Superintendency authorized the realization of a Takeover bid on at least 82.42% of ordinary shares (20,499,067,131 titles) of Acerías Paz del Río and a maximum of 100% (that is, 24,870,647,495 papers) to a price each of 3.65 pesos.
(See: Takeover bid for Nutresa: second week ended and only 0.35% of the goal goes).
The Superfinancial said that the Colombian stock exchange must suspend the stock trading of the share of the company owned by the Brazilian company Votorantim, until the day following the publication of the offer notice.
It should be remembered that on November 18, Acerías Paz del Río reported that it received a communication from Votorantim SA, its majority shareholder, in which it informed it that it had entered into a contract with Trinity Capital SAS and Structure SAS Banca Investment for sale.
(See: What is business intelligence and how it transforms companies):
The sale was sealed on Thursday, December 9, with the aim of disposing of the Acerías shares that Votorantim currently holds.
Promptly, Votorantim has a percentage of 82.42% of ordinary shares and 100% of shares with preferential dividend and “no voting rights of the company“said Acerías Paz del Río.
According to Andrés Moreno Jaramillo, certified financial and stock market analyst, the operation seeks not only to buy Votorantim’s stake, as has already been negotiated, but also the shares held by minority shareholders and the Boyacá Government.
(See: Hidroituango: this is the agreement that was signed and that ‘saved’ the project).
The action of Steelworks Paz del Río It is of low marketability and has little negotiation in the Colombian Stock Exchange. The liquidity float in the Stock Market is $ 200,000 million.
(See: ‘I wish we had richer people in the country to invest in’).
BRIEFCASE
