Public tender offer for arteris closes with an acceptance of 96 of the minorities shares
Partícipes de Brasil II, controlled by Abertis (51%) and Brookfield Brazil Motorways Holdings (49%), has closed the public tender offer for the shares of Arteris owned by the company’s minority shareholders.
In April, we reported that Brazil's stock market regulator, the Comissão de Valores Mobiliários (CVM), had approved the tender offer by Partícipes en Brasil II for the shares of Arteris.
In total, both companies will acquire, through Partícipes en Brasil II, 52.4 million of ordinary shares, representative of 15.2% of Arteris’ capital stock and of 96% of the total shares object of the tender offer. Both companies will pay a total amount of R$527Mn (around US$148 million), at the price of R$10.06 (US$2,82) per share.
After the closing of the deal, Abertis and Brookfield Brazil Motorways Holdings will control 84.5% of Arteris, through Partícipes en Brasil I and Partícipes en Brasil II.
The offer has been accepted by more than two thirds of the minorities’ shares object of the tender. This fact accomplishes the condition for Arteris to cease to be a trading company in the Novo Mercado Brazilian stock market index. This will take place the day immediately following the closing of the auction.
Arteris is one of Brazil's largest toll road concessionaires, with 3,250 kilometres under management. Through nine concessionaires, the company manages toll roads in the states of São Paulo, Minas Gerais, Rio de Janeiro, Santa Catarina and Paraná.
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