Aier Eye International, S.L.U. made an offer to acquire Clínica Baviera, S.A. from Corporación Financiera Alba, S.A., Grupo Empresarial Zriser SA, Netsa Investments, B.V., Eduardo Baviera Sabater, Fernando Llovet Osuna, Julio Baviera Sabater and others for approximately €150 million.
April 06, 2017
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Aier Eye International (Europe), S.L.U. made an offer to acquire 90% stake in Clínica Baviera, S.A. (BME:CBAV) from Corporación Financiera Alba, S.A. (BME:ALB), Grupo Empresarial Zriser SA, Netsa Investments, B.V., Eduardo Baviera Sabater, Fernando Llovet Osuna, Julio Baviera Sabater and others for approximately €150 million on April 7, 2017. Under the terms, Aier Eye will pay €10.35 per share in cash. The price offered will not be reduced by the dividend of €0.22 announced on March 31, 2017, by means of the relevant fact notice and whose payment date is fixed for May 19, 2017. As guarantee to the acquisition of the shares, BNP Paribas has issued an endorsement for the sum of €151.9 million. Eduardo Baviera Sabater, Fernando Llovet Osuna and Julio Baviera Sabater have committed to remain as members of the Clínica Baviera's management; Eduardo Baviera as Chief Executive Officer and Julio Baviera as General Medical Director. Corporación Financiera Alba, S.A. (BME:ALB), Grupo Empresarial Zriser SA, Netsa Investments, B.V., Eduardo Baviera Sabater, Fernando Llovet Osuna and Julio Baviera Sabater have signed commitments to irrevocably accept the takeover bid in respect of 59.35% stake in Clínica Baviera, S.A. Whereas Eduardo Baviera Sabater, Fernando Llovet Osuna and Julio Baviera Sabater have undertaken not to accept the offer representing 10% of the share capital.
On April 10, 2017, Aier Eye International (Europe) S.L.U signed a definitive agreement Clínica Baviera S.A. from Corporación Financiera Alba, S.A., Grupo Empresarial Zriser SA, Netsa Investments, B.V., Eduardo Baviera Sabater, Fernando Llovet Osuna, Julio Baviera Sabater and others. Aier Eye Hospital has sought authorization from the Comisión Nacional del Mercado de Valores (CNMV) for the tender offer of Clínica Baviera. As on May 2, 2017, the transaction received approval from the shareholders of Aier Eye Hospital Group Co., Ltd., parent of Aier Eye International. Comisión Nacional de los Mercados y la Competencia has approved the transaction on May 24, 2017. Spanish regulator approves the transaction. As of June 21, 2017 Chinese regulatory authorized the offer. As on June 27, 2017, the transaction was approved by Comisión Nacional del Mercado de Valores. The acquisition is expected to close in second quarter of 2017.
Rothschild & Co SCA acted as financial advisor and Araoz & Rueda Abogados acted as a legal advisor for Corporación Financiera Alba, S.A. BNP Paribas SA (ENXTPA:BNP) acted as a financial advisor, Francisco Martínez Boluda, Tomás Fernández Quirós, Daniel Valcarce, Nicolás Nägele of Uría Menéndez Abogados, S.L.P. and DLA Piper Rudnick Gray Cary Spain S.L acted as a legal advisors to Aier Eye International. Linklaters Slp acted as legal advisor to Aier Eye International.
Clinica Baviera SA is a Spain-based company engaged in the healthcare sector. The Company focuses on providing services within the field of ophthalmic medicine. The Company is specialized in the diagnosis and treatment of eye disorders, including myopia, hyperopia, astigmatism, cataracts, glaucoma, vitreous-retina and strabismus, among others. The Company operates a network of clinics located in various European countries, such as Spain, Germany, Austria and Italy. In addition, the Company is a parent of the Baviera Group, a group that comprises a number of controlled entities, including Clinica Baviera Italia Srl, Clinica Baviera Mallorca SL, Care Vision Germany GmbH and Castellana de Intermediacion Sanitaria SL, among others. The main shareholder of the Company is Aier Eye International (Europe) Slu.
Aier Eye International, S.L.U. made an offer to acquire Clínica Baviera, S.A. from Corporación Financiera Alba, S.A., Grupo Empresarial Zriser SA, Netsa Investments, B.V., Eduardo Baviera Sabater, Fernando Llovet Osuna, Julio Baviera Sabater and others for approximately €150 million.
CLÍNICA BAVIERA, S.A. 
