Inocsa launches takeover bid for 37.9% of Catalana Occidente Group’s shares

Cuatrecasas has advised Inocsa on launching a voluntary takeover bid for the remaining 37.97% stake that it does not already hold in the Catalana Occidente Group (GCO). Inocsa offers a cash purchase of €50 per share. Alternatively, the offer can be accepted through an exchange of shares, under the terms established in the bidding documentation.

Currently, Inocsa holds 62.03% of GCO’s shares, which will be immobilized during the acquisition process. Thus, the offer totals an estimated €2.277 billion.

The Cuatrecasas team handling this transaction was led by partners Gerard Correig and Roger Freixes, together with lawyers Santiago Bayo, Alejandro Ramón and Marc Badia from the Equity Capital Markets team.

With regard to the legal advice, Gerard Correig highlighted: “Announcing the takeover bid is the first step of this technically complex transaction and a significant milestone for the group with over 160 years of history. We are very grateful that Inocsa counts on us in a transaction that will shape the group’s future in the coming years.”