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Grupo Soma outlines share sale Grupo Soma outlines share sale Brazilian retail chain could raise $145 mln to help finance the acquisition of clothing company Hering EquityCapital MarketsM&ABrazil Brazilian retail chain Grupo Soma has outlined a share sale for BRL750 million ($145 million) to finance part of the acquisition of clothing company Hering, according to a securities filing. The retailer starts taking orders from investors on Tuesday and plans to price the follow-on offering on July 20. It is looking to sell 46 million new shares with existing shareholders allowed to acquire up to 9.55% of the offering, it said in the filing. Itaú BBA is coordinating the offering with Bank of Am ....
Brazil's Soma in talks to acquire Cia Hering for $967 million reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
RIO DE JANEIRO, BRAZIL - Brazilian apparel retailer Grupo de Moda Soma is in exclusive talks to acquire Cia Hering for R$5.3 billion (US$967 million) in a cash and share deal, according to securities filings by both companies on Monday. The acquisition will involve a cash payment to Hering shareholders of 9.630957 reais per share, plus 1.625107 share of Grupo Soma, the filing said, for a total value of 32.54 reais per share. The deal offers Hering’s shareholders a premium of 43.5% over Friday’s closing share price. Shares in Hering rose almost . . . To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here ....
By Reuters Staff 2 Min Read SAO PAULO (Reuters) - Brazilian apparel retailer Grupo de Moda Soma is in exclusive talks to acquire Cia Hering for 5.3 billion reais ($967 million) in a cash and share deal, according to securities filings by both companies on Monday. The acquisition will involve a cash payment to Hering shareholders of 9.630957 reais per share, plus 1.625107 share of Grupo Soma, the filing said, for a total value of 32.54 reais per share. The deal offers Hering’s shareholders a premium of 43.5% over Friday’s closing share price. Shares in Hering rose almost 24%, while shares in Soma fell more than 10%. “This acquisition seems to be pricey for Soma and potential synergies are not clear yet,” said Carlos Daltozo, head of equities at research broker Eleven. ....