Campari to Acquire Lascelles

Campari has reached an agreement with 81.4% of the holders of Lascelles de Mercado to acquire a majority stake in the company.

Based on the release sent to the stock exchange, Campari is seeking to acquire all outstanding and preference shares of the company through a formal tender offer to the board of directors and public shareholders.

The total purchase price for 100% of the shares outstanding is US$414.75Mn. Using Friday’s US$ weighted average selling rate of $89.82 implies a proposed acquisition price of roughly J$388 per share. This represents a 41.0% premium on the last closing price of $275.17.