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Torreal Sells 8.35 Million Mobico Shares Amid Cosmen Takeover Bid
Value
£8.35M
Acquirer
Cosmen family
Target
Mobico Group (8.35 million shares)
Spanish investment firm Torreal, owned by the Abelló family, has sold 8.35 million shares of Mobico Group at 43.9 pence per share. The divestment takes advantage of the takeover bid launched for the Alsa parent company by the Cosmen family.
✦ Meridian Analysis
Torreal sold 8.35 million Mobico shares at 43.9 pence per share, after buying 3 million at 39 pence on 22 October, giving it a 1.36 % stake. The sale was signed on 30 October, the same day the public offer was formalised at 46 pence pending regulatory clearance and a shareholder vote. Torreal, the Abelló family investment vehicle, is exiting before the offer is executed; the Cosmen family, through Autobuses de León, and Asterion Industrial Partners are the bidders, acting as strategic buyers. Peel Hunt acted as broker, linked to Santander and also adviser to the bidders. The mechanics are a secondary share sale, not part of the OPA, providing liquidity to Torreal and reducing the free‑float.
Earlier this month Meridian reported the Cosmen/Asterion €338 million bid for 100 % of Mobico.
The shareholder vote requires a 75 % majority, excluding the 26 % already held by Cosmen.
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