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In 2023, Saverex failed to take Exmar private in two attempts. The firm announced its intention for a new takeover bid in December last year.
Exmar announced in a statement on Wendesday that Saverex launched the new voluntary and conditional public takeover bid for all shares of Exmar not already owned by it or persons affiliated with it.
The initial acceptance period will open on February 13 and will expire on March 13 at 4:00 pm (CET).
Also, the offer price is 11.50 euros ($12) per share.
The bid price will be reduced on a euro-for-euro basis by the gross amount of any distributions made by Exmar to its shareholders.
“The board of directors unanimously supports the offer and recommends the shareholders to accept the offer,” Exmar said.
In December 2023, Exmar appointed Carl-Antoine Saverys as its new chief executive officer.
Carl-Antoine Saverys (born in November 1989) is the son of Nicolas Saverys.
Results in March
Saverex, which is the controlling shareholder of Exmar, said in a separate statement the results of the initial acceptance period will be announced on March 20.
According to the prospectus, Saverex owns 50,620,736 shares or 85.08 percent in Exmar, as of February 5, 2025.
The firm increased its shareholding from 48,346,694 shares announced in December.
Also, Exmar, which is considered a person affiliated with Saverex, holds 1,956,013 treasury shares or 3.29 percent.
Nicolas Saverys, the executive chairman of Exmar, holds 7,924 shares in Exmar or 0.01 percent.
In total, this represents 52,584,673 shares or 88.38 percent in Exmar, meaning the bid relates to the remaining 6,915,327 shares or 11.62 percent in Exmar.
