Gruppo Campari has launched a squeeze out procedure on the shares of Grand Marnier owner Société des Produits Marnier Lapostolle (SPML).
As a result, the French drinks company will be delisted from Euronext Paris tomorrow (14 July). It is the latest step in the completion of Campari’s takeover of SPML.
Campari confirmed on 1 July that it had crossed, in concert with certain family shareholders of SPML, the 95% threshold of the share capital and voting rights of the company.
The total amount paid by Campari for the acquisition of 73.4% of SPML is €489.8 million.
