Beter Bed Holding and Torqx agree on recommended all-cash offer of EUR 6.10 per share
10 Julho 2023 - 2:00AM
Beter Bed Holding and Torqx agree on recommended all-cash offer of
EUR 6.10 per share
JOINT PRESS RELEASE
This is a joint press release by Beter Bed
Holding ("Beter Bed Holding", “BBH” or the "Company")
and 959 B.V. (the "Offeror"), a company controlled by Torqx
Capital Partners ("Torqx"). This joint press release is
issued pursuant to the provisions of Section 17, paragraph 1 of the
European Market Abuse Regulation (596/2014), as well as Section 4,
paragraphs 1 and 3, Section 5, paragraph 1 and Section 7, paragraph
4 of the Netherlands Decree in Public Takeover Bids (Besluit
openbare biedingen Wft, the "Decree") in connection with the
intended recommended public offer by the Offeror for all the issued
and outstanding shares in the capital of the Company (the
“Offer”). This press release does not constitute an offer,
or any solicitation of any offer, to buy or subscribe for any
securities in the Company. Any offer will be made only by means of
an offer memorandum approved by the Dutch Authority for the
Financial Markets (Autoriteit Financiële Markten, the
"AFM"). This press release is not for release, publication
or distribution, in whole or in part, in or into, directly or
indirectly, in any jurisdiction in which such release, publication
or distribution would be unlawful, including the United States.
- Significant premium of 107%
- BBH’s Boards unanimously consider offer in the best interest
of all stakeholders
- Torqx fully supports the Company’s management in its growth
strategy
- 44% of the shares committed through irrevocables
- Financing in place, providing high deal certainty
Uden, the Netherlands, 10 July 2023 – Beter Bed Holding
(“BBH”) – the Netherlands’ largest sleep specialist in retail,
wholesale and B2B – and Benelux investment firm Torqx Capital
Partners (“Torqx”) are pleased to announce they have reached
conditional agreement on an intended recommended all-cash public
Offer for all issued and outstanding shares in the Company (the
“Shares”) of EUR 6.10 (cum dividend) in cash per share (the
“Consideration”). The Consideration represents a premium of
approximately 107% to BBH’s closing price per Share on 7 July 2023
of EUR 2.95. This delivers immediate, certain and attractive value
to the shareholders of the Company. The Offer values a 100% of the
Shares at approximately EUR 168 million.
For the full PDF of the press release, please click on the link
under attachment.
Press photos can be downloaded here.
Beter Bed Holding NV (EU:BBED)
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