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Company News

BME shares to be delisted from Spanish markets after acquisition by SIX

Sept 1 (Reuters) - Bolsas y Mercados Espanoles (BME) will be delisted from the Spanish stock markets after SIX Group AG met the requirements to exercise the squeeze-out acquisition on Tuesday.

As of Aug. 31, SIX owned around 79.7 million shares of its Spanish rival, representing 95.315% of BME’s share capital.

The settlement of the squeeze-out transaction means BME’s shares will no longer be trading on the Madrid, Barcelona, Bilbao and Valencia stock exchanges, according to an announcement by the Swiss company.

BME shareholders who still wish to exercise their sell-out rights may request to do so until Sept. 5.

The price per BME share, both in the cases of squeeze-out and sell-out, will be the same as the 32.98 euros per share paid in the offer.

However, should BME approve or make any kind of distribution to its shareholders prior to the squeeze-out or sell-out transaction settlement date, such price per share will be reduced by an amount equal to the gross amount of that distribution.

SIX became Europe’s third-largest stock exchange operator, with the takeover deal valued at 2.57 billion euros ($3.08 billion). ($1 = 0.8342 euros) (Reporting by Maria Gonçalves; editing by Jesús Aguado)

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