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Boero moves towards delisting after 35 years

Milan - After 35 years, Boero Bartolomeo is moving towards leaving the Stock Exchange. Tender offer and delisting for the Genoese company: the company’s board of directors, which is controlled by six groups of shareholders, and announced that it is united in a shareholders’ agreement for 97.4% of the capital

Milan - After 35 years, Boero Bartolomeo is moving towards leaving the Stock Exchange. Tender offer and delisting for the Genoese company: the company’s board of directors, which is controlled by six groups of shareholders, and announced that it is united in a shareholders’ agreement for 97.4% of the capital, decided to call an assembly in order to authorise the acquisition of their shares through a voluntary all-inclusive tender offer intended to recover the company’s stock from Borsa Italiana’s electronic stock market.

The shareholders who control the coatings holding company are Andreina Boero, with 55.291% of the shares, and Cristina Cavalleroni Boero, with 0.029% (together they hold 55.32%); IVM, with 14.583%, and another 5.568% which can be attributed to shareholders who are close to Boero Bartolomeo and IVM’s board member, Adriano Teso (for a total of 20.151%); Adriana Cella, directly and with Immobiliare Luma, for 18.284%, to which the stakes held by subjects close to Boero Bartolomeo and Immobiliare Luma board member Luigi Ghisleri (for an overall total of 18.415%); Pleso holding (2.477%), Sindel (0.625%); Andra Cavalleroni (0.416%). The board of directors of Boero also tapped Giuseppe Pericu, the former mayor of Genoa, after the resignation of Giorgio Rupnik.

The board of directors called the assembly to suggest a price range for the acquisition of the company’s own shares between a minimum price of €17.82 and a maximum of €22 per share:“The shareholders’ agreement is in any case subject to the assembly’s decision to authorise the acquisition of the company’s own shares, after which the board of directors will establish the offer price per share somewhere between the minimum and maximum suggested by the assembly.”

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