Greenalia’s two main shareholders execute BME Growth delisting bid

• Now that the transaction has been completed, the two majority shareholders have increased their stake to 100% of the capital, 94% controlled by Manuel García, through Smarttia, and 6% by José María Castellano, through Alazady.
• Greenalia thus enters a new private development phase, having successfully achieved the objectives set out in its MAB (BME Growth) IPO Project in 2017.
• In these years, the company has increased its value sevenfold, reaching 388 million euros.

 Greenalia’s majority shareholders – José María Castellano, Chairman of the company, and Manuel García, founder and main shareholder – finalise the BME Growth delisting tender offer process, after a successful close of the entire transaction.

Following this process, which began with the offer launched on 3 May after the Board of Directors’s approval, the two majority shareholders who already held 81.2% (Manuel García through Smarttia) and 5.2% (José María Castellano through Alazady) now control 100% of the company’s capital. In this way, the shareholder’s meeting is now distributed 94% for Smarttia (Manuel García’s company) and 6% controlled by José María Castellano (Alazady).

This transaction is part of the company’s desire to initiate its new Strategic Plan for the coming years, once the objectives of the project with which it was floated on the MAB in 2017 have been met. Greenalia thus begins a new private stage with the development of an extensive pipeline in Spain and the USA as the cornerstones of its new business plan.

The takeover bid process involved a payment of 17.5 euros per share, which represented a premium of 23.4% over the average share price of the last three months, which placed the company at a value of 388 million euros, seven times more than when it was first listed on the MAB (now BME Growth), where the exit price was 43.1 million euros.