In a position of six million shares, Viohalco in Cenergy. The process has started and concerned 2.82% of the share capital, while the book was covered in just a few minutes. As it was known by the contractors during the procedure the minimum price was set at EUR 24,2.
If this is the final price, revenues reach EUR 145.2 million. The discount is of the order of 8%.
The Viohalco currently has 69.7% of Cenergy. The latter won't have any proceeds from the transaction.
The official announcement
Viohalco SA announces the start of 100% secondary accelerated private placement through an accelerated bid book procedure (accelerated bookbuildingTo institutional investors, some 6 million existing common shares ( «Shares») by Cenergy Holdings S.A. («Cenergy» or «Company»), corresponding to around 3% of Cenergy's existing share capital (or «Transaction»).
Viohalco currently owns about 69.7% of the Company's share capital. The main objective of Viohalco is to extend the free dispersal the Company and meet the existing demand for Cenergy shares from a group key long-term investors.
In relation to the Transaction, Viohalco has agreed with Goldman Sachs International ( Gold ( ( ( () and with Goldman Sachs International.«Goldman Sachs» or «Exclusive World Coordinator») (Sole Global Coordinator) to maintain the non-disclosure commitment (lock-up) of its remaining participation in the Company for 180-day period after the date of the Transaction, subject to certain exceptions and derogations or waivers from the Exclusive World Coordinator.
Cenergy will receive no revenue from the Transaction.
The bid price per share will be determined through the accelerated book building process. The process of creating the book will start immediately and the Exclusive World Coordinator reserves the right to complete the process at any time.
The Goldman Sachs acts as Exclusive Global Coordinator and Joint Bookrunner. BofA Securities Europe SA («BofA Securities») acts as Joint Bookrunner. The Piraeus Securities S.A. acts as Co-Lead Manager (together with Goldman Sachs and BofA Securities, the «Managers» (Managers)).
After completing the process of creating the tender book and determining the price of the Transaction, a newer announcement will follow.
