Vinci, Eiffage Seek Full Control of French Tunnel Operator SMTPC
April 01 2021 - 2:06AM
Dow Jones News
By Pietro Lombardi
France's construction-and infrastructure company Vinci SA and
civil-engineering company Eiffage SA are in talks to launch a
tender offer of 23 euros ($26.98) for each share in tunnel operator
Societe Marseillaise du Tunnel Prado Carenage SA that they don't
already own.
The companies said late Wednesday that they want to launch a
simplified tender offer, followed by a squeeze-out. Vinci currently
has a 33.3% stake in the company, while Eiffage controls 32.9% of
it.
The EUR23-a-share offer would represent a premium of more than
30% over Wednesday's closing price. After the offer, the companies
would have equal holdings in the tunnel operator.
Write to Pietro Lombardi at pietro.lombardi@wsj.com;
@pietrolombard10
(END) Dow Jones Newswires
April 01, 2021 01:51 ET (05:51 GMT)
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