Amber extends the deadline for debt consolidation in Applus to February 2025

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By TP

The ISQ and TDR funds, through their joint venture Amber EquityCo, have decided extend to February 2025 the deadline for debt consolidation in Applus for an amount of 512 millionaccording to the information sent to the National Securities Market Commission (CNMV). In this way, February 13, 2025 is established as the maximum date for Amber to «promote the Applus group to incur approximately 512 million euros of additional debt to finance the distribution of an extraordinary dividend to Applus shareholders of a similar amount«, as stated in the takeover brochure. It should be remembered that, once Amber's takeover bid for Applus is completed, the firm is still immersed in the Exclusion takeover bid on all of the company's shares at a price of 12.78 euros per title. In this way, Amber, the company's majority shareholder, will make an offer on all Applus securities, and has assured that it will require the share holders not to participate in the operation, «its forced sale at the same price as the offer«. Once the acquisition of all the securities is completed, they will cease to be listed on the stock market.