Apollo Global Management increases the price of its takeover offer for Applus


The inspection, testing and certification company Applus Services rises 5.46% on the Spanish stock exchange after the American venture capital firm Apollo Global Management announced the purchase of 28.2 million of its shares, representing 21.85% of its share capital, which its takeover offer increased to 10.65 euros per share.

At 9:45 a.m., Applus shares are trading at 10.81 euros, having been the company that gained the most in the continuous market with said 5.46%.

The stock has gained 8.4% on the stock market so far this year.

Apollo Global Management will now pay 10.65 euros per Applus share

At this time, the main index of the Spanish stock market, the IBEX 35, rose by 0.68% and stood at 9,926.1 points.

Applus reported on Wednesday in a notice to the National Securities Market Commission (CNMV) about the operation, which was carried out through the instrumental company Manzana Spain Bidco.

On January 17, the regulator agreed to approve the Apollo investment fund's takeover bid for 100% of the Spanish certification and testing company.

Apollo Global Management, listed on the New York Stock Exchange, closed yesterday with a decline of 2.18% and its share price was $95.31 (87.68 euros).

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