Holding Soares dos Santos wants to buy subsidiary of JM by 285 million euros – Jornal de Negócios – Portugal

In a statement sent this Thursday, April 28, by Jerónimo Martins to the Portuguese Securities Market Commission (CMVM), the retailer said it had received a takeover bid of its Monterroio branch – Industry and Investment BV by the Sociedade Francisco Manuel dos Santos (SFMS).

the SFMS, the holding company controlled by Soares family of Santos and holds the majority of the capital of Jerónimo Martins, intends to acquire the Monterroio to Jerónimo Martins by 285 million euros.

also via statement, SFMS shows have made the tender offer for the acquisition of “total capital” that sub-holding of Jerónimo Martins for the industry and services with the aim of “making direct investments in the industrial sector through the acquisition of operating assets, such as Monterroio.”

the SFMS also considers that the Monterroio is “a good investment opportunity,” adding he was “prepared to start negotiations if and when the Council JM’s management considers appropriate “

Monterroio includes JMD subsidiaries. – Consumer Products distribution Ltd and Jeronimo Martins. – Restoration and Services, SA, as well as holdings in the Corporation Unilever Jerónimo Martins, Lda (45%), Gallo Worldwide, Lda (45%), Hussel Iberia -.. Chocolate and Confectionery , SA (51%) and Perfumes and Cosmetics Puig Portugal -. Distribuidora SA (27.545%)

In statement of Jerónimo Martins is also noted that the listed of the Board of Directors will “examine the proposal and assess the interest of the company to consider a possible transaction.”

Jerónimo Martins ended the stock market session Thursday losing 0.66% to 14.26 euros, a session in which the retailer to negotiate for minimum of 29 March to touch the 14.015 euros.

also this Thursday and already after the close of the markets, the Jerónimo Martins announced results for the year in the first quarter of 2016. the retailer’s profits increased 19.3% to 77.3 million euros over the same period, a result that exceeded the estimate made by CaixaBI anticipating profits of only 72 million.