Shares of NIBC Rise on EUR1.44 Billion Takeover Talks With Blackstone

Date : 14/02/2020 @ 20:13
Source : Dow Jones News
Stock : Nibc Holding NV (NIBC)
Quote : 9.61  0.0 (0.00%) @ 18:08
Nibc Holding NV share price Chart

Shares of NIBC Rise on EUR1.44 Billion Takeover Talks With Blackstone

Nibc Holding NV (EU:NIBC)
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By Jaime Llinares Taboada

 

Shares of NIBC Holding N.V. rose on Friday after it said that it has received an acquisition proposal from U.S. private-equity firm Blackstone.

The Dutch bank said Blackstone has offered to buy all issued and outstanding shares not owned by JC Flowers and Reggeborgh--NIBC's two largest shareholders--at a price of EUR9.85 cum dividend, to be paid in cash on completion.

NIBC shares at 0833 GMT were up 7.2% at EUR9.79, valuing the company at 1.44 billion euros ($1.56 billion).

NIBC said that discussions are at an advanced stage, but there is no assurance that the transaction will materialize.

The deal has the support of JC Flowers, which intends to sell its 60.6% interest for EUR8.93 per share, and Reggeborgh which would sell its 14.6% holding for EUR9.65 a share.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

February 14, 2020 03:58 ET (08:58 GMT)

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