Wendel: forward sale agreement for 6.7% of Bureau Veritas
(CercleFinance.com) - Wendel announces the conclusion of a forward sale agreement with BNP Paribas concerning 30,357,140 Bureau Veritas shares, representing approximately 6.
7% of Bureau Veritas capital.
This 3-year transaction is accompanied by a "Call Spread" with BNP Paribas and Morgan Stanley Europe SE, enabling Wendel to benefit from the rise in the share price of up to approximately 15%.
Wendel will retain 26.5% of the capital and 41.2% of the voting rights of Bureau Veritas.
Upon closing of the Offer, the transactions should generate immediate cash for Wendel, which will support the acceleration of its transition to a dual model based on proprietary investment and third-party asset management, generating enhanced performance and an 'attractive and recurring' return to shareholders, the press release assures.
Final terms will be announced on March 12, 2025, with settlement of the shares scheduled for March 14, 2025.
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