Following our communication on 5 April 2013 relating to the successful delisting of Brisa, the 30 day period during which minority shareholders could elect to sell their shares in Brisa to Tagus at €2.22 a share ended on 13 May 2013.
We are pleased to announce that, of the c.44 million shares in Brisa held by minority shareholders, 31.8 million shares (c.5.8% of voting rights) have been tendered to Tagus for a total consideration of €70.5m. Settlement has been occurring on a weekly rolling basis, with the final closing date being 15 May 2015. The combined voting rights of Arcus European Infrastructure Fund 1 (“AEIF1” or “the Fund”) and the Jose de Mello Group is now c.98%. The Fund now holds, directly and through its shareholding in Tagus, a total of 40.5% of Brisa’s voting rights.
This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.