Sole 24 hours towards farewell to the stock exchange: Confindustria launches a totalitarian opa for delisting

Confindustria launches a totalitarian opa to get the sun out 24 hours from the bag. The public purchase of voluntary purchase relating to 18 million special shares, equal to 31.98% of the capital represented by this category, provides for a price of 1.1 euros per share « cum dividendo » And it incorporates a 42.54% prize on Tuesday’s official price, equal to 0.768 euros. In case of total membership The outlay would be just under 20 million. The editorial group had debuted in Piazza Affari at the end of 2007 after a placement for 5.75 euros per share.

The New Constitution corporate vehicle (bidco)

In a note it is explained that Confindustria Servizi, entirely controlled by Confindustria and upon the resolution of the General Council of Confindustria itself, has decided to promote a public voluntary purchase public offer through a newly established company vehicle (Bidco), aimed at acquiring the totality of the special actions of the Sole 24 Ore not yet held. Yesterday the title, in a reflective price list, closed on the rise of 1.56% to 0.78 euros. The offer concerns a maximum of 18,020,513 of special shares, equal, as mentioned, to about 31.98% of the capital represented by this category. Considering the price of the offer of 1.10 euros per share, The total potential outlay, in case of total adhesion to the offer, for the purchase of the shares would be equal to 19.82 million euros.

The consolidation and relaunching operation of the editorial company

In the company’s note it is added that « the operation is aimed at revoking special shares from the Euronext Milan market and is part of a larger strategic project of consolidation and relaunch of the publishing company. In particular, the offer represents a functional tool for the pursuit of future growth objectives, allowing only 24 hours to operate in a context of greater management and organizational flexibility, with faster decision -making times and a significant reduction in compliance costs related to the price. The offer also intends to ensure the shareholders of the Sole 24 Ore an opportunity for disinvestment to more favorable conditions than the market ones, taking into account the limited liquidity of the title and its recent scholarship « .

The balance sheet to 2024

The 24 Ore Group closed 2024 with A positive net result for 9.1 million (+17.7% on 2024) and with an ebitda equal to 27.3 million net of non -recurring voices, substantially in line with the year before. The revenues were 214.5 million (-0.2%): the advertising ones were equal to 89.3 million, falling by 1.7% compared to 2023 as a result of the combination of a different trend of the collection between the various vehicles, where on the one hand there is the growth of the collection on the radio and, on the other, the flexion of the collection on the press vehicle, which is affected by the drop in the type of legal advertising.