BSCH-owned Vallehermoso has launched a public offer in order to finalise its takeover of Spanish company Prima, according to Europa Press.
Prima will become part of Vallehermoso’s renting division (Vallehermoso Renta), following the creation last week of three new subsidiaries dedicated to construction and sales, renting and services.
Vallehermoso Renta has estimated financial backing of €382.5m (Pts63.5bn) and assets worth an estimated €859.8m (Pts143bn).
The operation will be carried by means of an exchange of shares at a ratio of 26 Vallehermoso shares for every 24 Prima shares Prima. Shareholders in the latter will own 35% of the new company.
Expansión, 12 September 2000, page 15
