
SPAIN - Permira and Ballvé make offer for Telepizza
According to reports in the Spanish press, the president of Telepizza, Pedro Ballvé, has teamed up with Permira to make a public bid for the company.
Permira and Carbal, the investment vehicle of the Ballvé family, have made an initial offer of EUR 2.15 per share, conditional on the acquisition of 69% of Telepizza. Ballvé already owns 20.5% of the company. The offer values the Telepizza at approximately EUR 570m and if successful, Permira plans to delist the company as soon as possible. RBS, ING and Linklaters are acting as advisors to Permira, while Uría y Menéndez is organizing the public offer.
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