1
2
3
4
5
6
7
8
9
10
11
12

A Bondalti apresenta uma oferta de 3,505* euros por ação da Ercros

O preço inicial representa um prémio de 40,6% em relação ao preço defecho do mercado no dia anterior ao anúncio. ((incluyendo dividendos distribuidos) )
Tienes hasta el 23 de Setembro para aceptar la oferta

Bondalti presents an offer of €3,505 per Ercros share

100% in cash
The price represents a premium of 40,6% (including distributed dividends) over the closing price on the day prior to the announcement of the takeover bid.
*Este precio resulta del ajuste del precio original de 3,6 euros a la distribución de dividendos realizada por Ercros
Key aspects

About the offer

Participate in Bondalti's offer and receive €3.505 per Ercros share.
Cash offer at a price of €3.505 per Ercros share.
The voluntary offer is being made for 100% of Ercros shares.
Premium of 40.6% (including distributed dividends) on the closing market price on the day prior to the announcement of the takeover bid.
The offer is conditional upon achieving acceptance of at least 50% of the capital, which will allow for effective integration.
The objective, once the transaction is completed, is to promote the delisting of Ercros shares from the stock exchanges.
Bondalti will maintain employment and presence in the communities where Ercros operates, as well as its headquarters in Barcelona.
Bondalti is a Portuguese industrial group that has been present in Spain for more than 20 years and has the financial support of a leading family group, the José de Mello Group.

Key data

Ago
Set
12
23
Período de aceitação inicial
€3,505
Per share
40,6%
Premium (including distributed dividends) on the closing market price on the day prior to the announcement of the takeover bid
100%
In cash

Related news

Notification of reduction in acceptance threshold
Modification of the offer sent by Bondalti to the “Comisión Nacional del Mercado de Valores” (CNMV) informing of the reduction in the minimum acceptance condition to at least 50% of the effective voting rights.
16
.
12
.
2025
Notification of approval by the CNMC
Notification of approval by the “Comisión Nacional de Mercados y Competencia “(CNMC) of the takeover bid for Ercros made by Bondalti.
30
.
10
.
2025
Price adjustment
Notification of the price adjustment of Bondalti's takeover bid for Ercros due to the distribution of dividends.
11
.
07
.
2024
Authorisation from the “Autoridade da Concorrência” (AdC)
Notification of approval by the “Autoridade da Concorrência” (AdC) of the takeover bid for Ercros made by Bondalti.
01
.
07
.
2024
Authorisation from the “Junta de Inversiones Exteriores”
Notification of the “Junta de Inversiones Exteriores” approval of Bondalti's takeover bid for Ercros.
12
.
06
.
2024
Request accepted for processing
Bondalti's request for authorisation to launch a takeover bid for Ercros accepted for processing.
20
.
03
.
2024
Public Offer
Announcement of a takeover bid for Ercros at a price of €3.6 per share.
05
.
03
.
2024
Cómo aceptar la oferta

A aceitação da oferta no primeiro período de aceitação pode ter lugar entre 12 e 24, inclusive.

Os acionistas da Ercros que desejem aceitar a Oferta devem contactar a entidade junto da qualas suas acções estão depositadas e declarar a sua aceitação por escrito a esta última,quer pessoalmente, quer por meios electrónicos ou por qualquer outro meio aceitepelas entidades depositárias.

FAQ

Find quick answers to the most common questions. If you don't see your question here, please contact us.
01
.
What is the price of the Offer?

The offer price is €3.505 in cash per Ercros share.

02
.
What happened to the original price of €3.60?

The original price of €3.60 was adjusted to €3.505 as a result of the dividend distribution made by Ercros.

03
.
What premium does it represent?

The price represents a premium of 40.6% (including distributed dividends) over the closing market price on the day prior to the announcement of the takeover bid.

04
.
Where can I find the Offer Prospectus?

The Prospectus will be available on this website once the Offer has been accepted by the CNMV, as well as on the CNMV website.

05
.
How can I accept the Offer?

Once approval has been received from the CNMV, an acceptance period will begin.

Once the acceptance period is open, Ercros shareholders who wish to accept the Offer must contact the entity where their shares are deposited and submit their declaration of acceptance in writing, either in person, by electronic means or by any other means accepted by the depositary entities.

06
.
What happens if the condition of a minimum acceptance of 50% is not met?

If Bondalti does not waive compliance with the minimum acceptance condition and this condition is not met, the Offer will lapse and none of the shares for which acceptance of the Offer has been declared will be acquired. Shareholders who have accepted the Offer will not have to take any further action; the shares will remain in their securities accounts.

07
.
Will Ercros continue to be listed on the stock exchange?

Bondalti's objective — if it holds more than 75% of Ercros' share capital once the transaction is completed and all the necessary requirements for promoting its delisting are met — is to promote the delisting of Ercros shares from the stock exchanges. If the conditions for Bondalti to promote its delisting are not met, Ercros shares will continue to be listed on the stock exchange.

08
.
Why does Bondalti want to buy Ercros?

The European chemical sector requires significant investment and the creation of larger-scale industrial groups that can act in an integrated manner and face the major challenges that are transforming production and distribution systems: increased international competition, energy transition, digital transformation and the regulatory framework. This transaction will help to create a more resilient Iberian-European leader with sufficient scale to compete in a sector facing major challenges.

About Bondalti

Bondalti is a Portuguese industrial group with roots in Spain for more than 20 years and has the financial backing of a leading family group, o the José de Mell Group, with a historical legacy of more than 120 years, €1.487 billion in turnover in 2024, €1.342 billion in assets and more than 8,800 employees. The family group, one of the most important in Portugal, has a solid shareholder base and has been making long-term investments for several generations that create jobs and have a sustainable positive impact on society.

Bondalti has a proven presence in the Spanish market, where it employs more than 250 people. It currently has two production units, one in Torrelavega (Cantabria) and another in Alfaro (La Rioja), as well as a logistics centre in Vigo. It also has five offices (Barcelona, Madrid, Pontevedra, Zaragoza and Logroño).

Recognised for its long-standing relationships based on the provision of innovative, high-quality solutions, guaranteeing superior standards of safety and respect for the environment, Bondalti has two main lines of business: chemicals and water treatment.

Bondalti is among the top 1% of the most sustainable companies in the chemical sector, according to the EcoVadis 2025 global ranking, being the largest Portuguese industrial chemical company, the largest Iberian producer of chlorine and the European leader in aniline sales.
With this highly industrial operation, and once the negotiations are complete, Ercros will become part of an industrial group with a solid financial position and shareholding structure. This will create a group with first-class volume and technical capabilities and the potential to compete with the major players, while expanding the strategic potential and growth possibilities of the resulting company with a long-term vision.

Bondalti will maintain jobs and presence in the communities where Ercros operates, as well as its headquarters in Barcelona.
For more information

Habla con
nosotros.

Estamos aquí para ayudarte. Ponte en contacto con nosotros para cualquier consulta o asistencia.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.