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    LD   IT0001055521

LA DORIA S.P.A.

(LD)
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La Doria S p A : NEGOTIATIONS IN PROGRESS BETWEEN THE MAJORITY SHAREHOLDERS OF LA DORIA S.P.A. AND INVESTINDUSTRIAL FOR A CORPORATE TRANSACTION ON THE COMPANY

09/27/2021 | 03:22am EST

PRESS RELEASE

NEGOTIATIONS IN PROGRESS BETWEEN THE MAJORITY SHAREHOLDERS OF LA DORIA S.P.A. AND INVESTINDUSTRIAL FOR A CORPORATE TRANSACTION ON THE COMPANY

Angri (SA), September 27, 2021 - The Board of Directors of La Doria S.p.A. ("La Doria") announces the communication by the shareholders subject to the shareholders' agreement, which covers a 63% holding in the Company, that negotiations are in progress with Investindustrial Investment Holdings S.à r.l. ("Investindustrial") for the conclusion of a corporate transaction on La Doria.

According to that disclosed to the Board, the agreements under negotiation between the parties include:

  • the transfer, in favour of an Investindustrial Group company and held by a number of the present shareholders involved in the shareholders' agreement, of the entire majority holding indicated above, for a price calculated on the basis of a valuation of the La Doria shares of Euro 16.50 each;
  • the transfer is subject to obtaining the usual authorisations of a regulatory nature (Antitrust and Golden Power);
  • as a result of this transfer, the launch of a public tender offer for all of La Doria's outstanding shares, at the price of Euro 16.50 per share;
  • the involvement of a number of the selling shareholders in the management of the La Doria Group post-transaction.

The signing of the binding agreements for the transaction will take place in any case once:

  • the confirmatory due diligence (currently underway) is completed on certain significant aspects of the La Doria Group's operations in accordance with market practice;
  • an agreement has been reached between the parties on all the terms and conditions of the transaction.

In order to permit the completion of the due diligence and the negotiations, the members of the shareholders' agreement have granted Investindustrial a period of exclusivity until October 20, 2021, the date by which it is expected that the binding agreements relating to the transaction will be signed.

The Company will promptly inform the market on the progress of the negotiations.

The shareholders of LA DORIA S.P.A. have utilised Vitale & CO as financial advisor, Studio Giliberti Triscornia & Associati as legal advisor and Ernst & Young as advisor for the financial vendor due diligence activity.

La Doria S.p.A. - Via Nazionale, 320 - 84012 Angri (SA) - Tel. +39.081.5166111 - Fax +39.081.5135991 - www.gruppoladoria.it

Exporters' Role No. 398 - Salerno R.E.A. c/o C.C.I.A.A. No. 147593 - VAT No. IT 00180700650 - Share Capital € 46.810.000,00 (fully paid-in)

Facilities: ANGRI (SA) - Via Nazionale, 320 - Tel. +39.081.5166111 | FAENZA (RA) - Via Emilia Ponente, 4 - Tel. +39.0546.622455

SARNO (SA) - Via Sarno-Palma (SS 367) Km. 16,400 - Tel. +39.081.9681411 I FISCIANO (SA) - Via Poìcbreccìa, 1/5 - Tel. +39.089.826577

PARMA (PR) - Viale delle Esposizioni, 79/A - Tel. +39.0521.708611 |

La Doria, a company listed on the STAR segment of Borsa Italiana, is the leading European producer of processed pulses and peeled and chopped tomatoes on the retail channel and among the leading Italian producers of fruit juices and beverages. La Doria is also the leading producer in Europe of private label ready- made sauces.

2020 revenues totalled Euro 848.1 million, of which 97% generated by the private labels segment with the major domestic and international retailers.

Contact:

La Doria S.p.A.

Patrizia Lepere

Investor & Media Relations Manager

0815166260- 3409673931

Email: patrizia.lepere@gruppoladoria.it

Website: www.gruppoladoria.it

La Doria S.p.A. - Via Nazionale, 320 - 84012 Angri (SA) - Tel. +39.081.5166111 - Fax +39.081.5135991 - www.gruppoladoria.it

Exporters' Role No. 398 - Salerno R.E.A. c/o C.C.I.A.A. No. 147593 - VAT No. IT 00180700650 - Share Capital € 46.810.000,00 (fully paid-in)

Facilities: ANGRI (SA) - Via Nazionale, 320 - Tel. +39.081.5166111 | FAENZA (RA) - Via Emilia Ponente, 4 - Tel. +39.0546.622455

SARNO (SA) - Via Sarno-Palma (SS 367) Km. 16,400 - Tel. +39.081.9681411 I FISCIANO (SA) - Via Poìcbreccìa, 1/5 - Tel. +39.089.826577

PARMA (PR) - Viale delle Esposizioni, 79/A - Tel. +39.0521.708611 |

Disclaimer

La Doria S.p.A. published this content on 27 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2021 07:21:05 UTC.


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Sales 2021 807 M 914 M 914 M
Net income 2021 47,0 M 53,2 M 53,2 M
Net Debt 2021 104 M 118 M 118 M
P/E ratio 2021 10,8x
Yield 2021 2,49%
Capitalization 503 M 568 M 570 M
EV / Sales 2021 0,75x
EV / Sales 2022 0,70x
Nbr of Employees 820
Free-Float 30,2%
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Number of Analysts 0
Last Close Price 16,48 €
Average target price 22,00 €
Spread / Average Target 33,5%
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Managers and Directors
Andrea Ferraioli Vice Chairman & Co-Chief Executive Officer
Antonio Ferraioli Chairman & Co-Chief Executive Officer
Elena David Independent Director
Michele Preda Independent Director
Iolanda Ferraioli Director