Apollo to acquire a 22% stake in Applus for €300m.

Financials

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Transaction Value£256m

Consideration TypeCash

Capital Owned-

Capital Bid For22%

EV/Sales-

EV/EBITDA-

Share Price Premium-

One Off Charge-

bidder

Apollo Global Management

target

Applus+ Services

bidder

I Squared Capital

bidder

Tdr Capital

Sources

Edit

Press Release

Applus - 29 Jun 2023

Press Release

Applus - 23 Jan 2024

Tags

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Acquisition

Majority

Pending

Cross Border

Public

Friendly

Test Inspection and Certification (TIC)

Spain

testing inspection and certification

Private Equity

Tender Offer

Synopsis

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Apollo, an American asset management firm, agreed to acquire a 22% stake in Applus, a Spanish industrial testing company, for €300m. I Squared and TDR offered to pay €9.75 per Applus share. The bid values Applus at €1.26bn. The companies are bidding against Apollo, which offered €9.5 per share. On January 24, 2024, Apollo raised the bid to acquire a 22% stake in Applus for €10.65 per share.

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Dealmakers