National Securities Market Commission admission of the takeover bid process

On March 20, 2024, the National Securities Market Commission (CNMV) adopted the following agreement:

“Admit for processing, in accordance with the provisions of article 17 of Royal Decree 1066/2007, of July 27, on the regime of public offers for the acquisition of securities, the request for authorization submitted on 03/05/2024 by Bondalti Iberica, S.L.U. for the formulation of a voluntary public offer to acquire 100% of the shares of Ercros, S.A., understanding that the prospectus and the other documents presented, after the complementary documentation and the modifications registered on 03/06/2024, 8/03/2024, 03/12/2024 and 03/14/2024, comply with the provisions of said article.

The admission for processing of the aforementioned application does not imply any ruling on the resolution relating to the authorization of the offer, or any of its terms and conditions, which must be produced in accordance with the deadlines and other requirements provided for in article 21 of the aforementioned standard. 

The acquisition resulting from the offer is subject to the provisions of article 7 bis of Law 19/2003, of July 4, on the legal regime of capital movements and economic transactions abroad. In accordance with article 26.2 of Royal Decree 1066/2007, the CNMV will not authorize the offer until the mandatory prior authorization referred to in said Law is obtained.”