Vinci Concessions and Eiffage have announced their intention to buy back the shares they do not hold in Société Marseillaise du Tunnel Prado Carénage (SMTPC), a prelude to its delisting.
Vinci Concessions, which controls 33,3% of the Company's capital, and Eiffage, which has 32,9%, intend to offer 23 euros per SMTPC share, i.e. a premium of 30% compared to the closing price on Wednesday, detailed the two groups in a statement.
The transaction values the Company at around 134 million euros, or 45 million for the shares they do not already control.
Vinci Concessions and Eiffage intend to hold an equal stake following the public tender offer, according to the press release.
However, this is subject to the conclusion of a formal agreement between the two groups and to obtaining authorizations from the competent competition authorities, and will take place after consultation with the representative bodies of SMTPC staff, they specified.
Until 2025, the SMTPC operates a 2,5 km long toll tunnel in the center of Marseille.
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