Duro Felguera shares rebounded more than 8% on the stock market, up to 0.68 euros, after the company announced the sale of 60% of the share capital of its subsidiary Epicom to Indra and the Oesía Group for just over 5.3 million euros. The group, which has come to lead the rises on the Spanish stock market in the early stages of the session, moderates the second rise and is in place due to revaluation, behind Bodegas Riojanas. In the cumulative total of the year, it adds up to 5.54% progress.
In a relevant fact sent to the National Securities Market Commission (CNMV), Duro Felguera has announced that the aforementioned sale has occurred after the State Society of Industrial Participations (SEPI) has exercised the purchase option of Epicom, a company strategic for National Security, and has given Indra and Grupo Oesía entry into the shareholding.
In a statement, SEPI recalls that due to the strategic nature of the company, on March 5, 2021, it acquired an initial public stake of 40% of Epicom from its sole shareholder Duro Felguera and a purchase option for the other 60%. Now, after the sale, Indra and the Oesía Group enter the share capital of Epicom with a 30% stake each, and SEPI will maintain 40%.
With the aforementioned sale, Duro Felguera complies with the agreement of the Council of Ministers of July 4, 2023, which imposes said divestment as a condition precedent to the authorization of the entry of foreign investors in the increase in share capital agreed by the General Meeting of the company on April 13.
Thus, the group has detailed that the Board of Directors has ensured that the conditions for exercising the purchase option “are those resulting from the application of the regulations of listed companies” and defends the interests of Duro Felguera “so that the “Price corresponds to the provisions of this regulation.”
“The transfer is fully justified from the point of view of the corporate interest of Duro Felguera as it is essential for the execution of the agreements of the General Meeting of April 13, 2023 to increase share capital,” he justified regarding the sale of the company. subsidiary that, according to the engineering, will allow “progress in compliance with the conditions precedent for the disbursement of the committed loans” with the Mexican investors -Grupo Prodi and Mota-Engil México- and “makes it possible to proceed with the entry of the investor in the share capital of Duro Felguera”.