Market Council Monitors Sotuver's Capital Opening Project
The Market Council is accustomed to following the evolution of events announced by Cote companies in their press releases. This time, it took an interest in the progress of the capital opening project announced by Sotuver on March 14, 2025, in favor of a strategic partner.
Background
To recall, the company's reference shareholders accepted a non-binding offer from a major international glass packaging producer to acquire a block of shares representing half of the current participation of the said reference shareholders, i.e., approximately 41% of the social capital. The press release indicated that, for informational purposes and based on the provisional 2024 accounts, the price of the attached 2024 coupon share on which the operation would be carried out would be, subject to adjustments resulting from acquisition audits, around 13,480 TND per share.
Update on the Project
The company specified that the acquisition audit phase is closed, and the contractual documents of the transaction have been developed and are in an advanced stage of negotiation. Furthermore, in accordance with regulations, the file was submitted to the Ministry of Trade and Export Development at the beginning of September. Given the examination deadlines of the Competition Council, the signing of the contractual documentation is expected by the end of 2025. The company has clarified that no binding document has been signed between the parties to date.
Impact on the Market
This announcement will strengthen confidence in the conclusion of this operation, which will offer great development opportunities on foreign markets. Sotuver is interested in exports, which offer better margins and absorb a large volume. On the stock market, the title shows an annual return of 12.93%. The course is currently trading at a price higher than the proposed valuation. Investors believe in rapid value creation. Additionally, there will likely be a public takeover bid as soon as the transaction is completed on the block of shares. The reference shareholders will join the buyer in such an operation, buying 50% of the shares to be purchased. To be continued.
