The widow of the founder of Prosegur, Helena Revoredo, and her children, who hold top positions in the company, have launched a public takeover bid (takeover bid) to increase the shareholding and reach a 75% stake.
The bidders already control 60.8% of the capital and their intention is to dedicate 149 million euros to obtain an additional 15%. The offer is in cash, is aimed at 81 million shares and has a price of 1.83 euros per share, 27% higher than the closing price this Tuesday on the stock market.
The announcement of the operation has had immediate effects on the price of Prosegur and also its stock market subsidiary Prosegur Cash, dedicated to cash management. The first rises 20% and reaches a capitalization of 945 million euros, while the second, in which Prosegur has a 79% stake, advances 4% and is now worth 821 million.
The company launching the offer is Gubel, controlled by Helena Revoredo through a shareholder agreement with the family and owner of 59% of the company. If we add the titles that the CEO, Christian Gut Revoredo, and his brothers Germán and Bárbara have at an individual level, we reach 60%.
The family says they have sufficient financing to cover the cost of the operation, which has been guaranteed through a bank guarantee.
In the information sent to the CNMV, the bidders are careful to specify that the offered price of 1.83 euros is higher than the purchases of shares that, informally, the family members have been making from time to time.
The basis of Prosegur, created in 1976 to transport money in vans, has been evolving towards technological security and cash management solutions. Its business now includes everything from ATMs to cybersecurity systems with a presence in Latin America, including an alliance in alarms with Movistar. It has a presence in the United States, Germany or Australia.
At the end of last year, the group had a presence in 31 countries and employed 150,000 people. Its revenues were around 4.2 billion euros, while net profit stood at 65 million. It also had 100,000 security guards, 100,000 ATMs spread throughout the world and 10,000 vehicles, in addition to 835,000 alarms.
