Nicolas Saverys is planning to launch a voluntary and conditional public takeover bid for all shares in Belgian gas shipowner and infrastructure provider Exmar.
Saverys’ investment vehicle Saverex would offer €12.10 in cash for each share it does not already own, a premium of 24.74% over Exmar stock’s closing price on March 31 and some 33% over the one-month volume weighted average prices.
If shareholders agree to a dividend payment of €1 per share at a general meeting on May 16, this amount will be deducted from the offer price.
Saverex already owns more than 45% of the shares in Exmar. The takeover offer is subject to customary conditions, including a 95% acceptance threshold.
Exmar’s board of directors has unanimously resolved to support and recommend the bid.
