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Investing.com -- Shareholder BW Gestao de Investimentos (BWGI) is contemplating a tender offer for the remaining shares of French glass container manufacturer, Verallia, that it doesn’t currently possess. The offer is estimated to be around 2.6 billion euros ($2.69 billion).
Verallia’s shares experienced a 5% drop following the news. BWGI, controlled by the Brazilian Moreira Salles family, disclosed on Monday that it’s considering offering 30 euros per share for the remaining Verallia stock.
At present, BWGI holds approximately 28.8% of Verallia’s share capital and around 27.9% of its voting rights.
The potential acquisition does not aim to privatize the company, and there is no guarantee that an offer will be made, as stated by BWGI.
Verallia, in a separate statement, announced that its board will convene to discuss the conditions of the potential offer. It is noteworthy that BWGI has been a shareholder of Verallia since the company went public in 2019.
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