Spain clears Bondalti's €3.505-per-share delisting bid for Ercros
What's the deal? Spain's National Securities Market Commission (CNMV) has authorised a delisting tender offer for chemicals group ErcrosDealroom has a profile for this one. Try Dealroom →, launched by BondaltiDealroom has a profile for this one. Try Dealroom → Iberica. The offer targets 100% of Ercros's capital, at €3.505 per share.
The structure: Bondalti already holds 77.23% of Ercros, acquired through an earlier tender offer, and those shares are locked up until the operation closes. The new offer applies to the remaining stock.
Why now? The move completes Bondalti's takeover by removing Ercros from public markets. The price was set under Spain's securities markets law and the royal decree governing tender offers.
What's next? The acceptance period runs 49 calendar days from the trading day after the first notice publishing the offer's key terms. Shares will be delisted once the deal settles — unless squeeze-out conditions are met, in which case delisting follows the forced sale.
The signal: The deal marks the final step in consolidating Ercros under Bondalti's control, converting a majority stake into full ownership and ending the company's run as a listed firm.
Read more: Forbes España
Image credit: Nick Bramhall
