(Alliance News) - LBM Next Spa announced Monday that it has launched a tender offer aimed at delisting the shares of Labomar Spa, together with CCP NO. 7.2 Ltd, a vehicle controlled by Charterhouse GP LLP.

LBM Next is a company controlled by Walter Bertin, chairman and CEO of Labomar as well as the controlling shareholder of LBM Next through the holding company LBM Holding Srl.

The takeover bid concerns nearly 6.0 million shares of Labomar, or about 32 percent of Labomar's capital, for which EUR10 per share is being offered, representing a premium of 14 percent over last Friday's closing. If the takeover bid is fully subscribed, the promoters of the offer would spend EUR59.9 million.

LBM said the takeover bid is aimed at implementing a project of organic and external growth as well as developing Labomar's business, facilitating speed of action including in the implementation of investments, and fostering management and operational flexibility.

"I am very satisfied with my experience during the listing period, and I trust that the Investors who believed in our project from the beginning are equally so, for which I thank them from the bottom of my heart. But equally I believe that, at a historical moment like the present, marked by the need to act with speed and determination, in order to seize all the development opportunities that the market grants us, it is necessary to share with greater speed, great flexibility, and unity of purpose, the decisions that shareholders and directors are continually called upon to make. The prospect of a partnership with a leading international private equity fund such as Charterhouse aims precisely at achieving these goals," said Labomar founder Walter Bertin.

"We are excited about the prospect of embarking on this new phase of development together with Labomar and look forward to the opportunity to work with Walter and his talented team, commented Chartherhouse's Antonio Di Lorenzo.

Labomar's stock is up 13 percent to EUR9.90 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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