Subject: TNM
Rassini informs that the Offeror waives the condition of achieving 95% acceptance in tender offer.
MEXICO CITY, Nov. 27, 2018 /PRNewswire/ -- Rassini, S.A.B. de C.V. (BMV: RASSINI) ("Rassini").
Regarding the tender offer launched on November 1, 2018, by GGI INV SPV, S.A.P.I. de C.V. ("GGI"), to purchase all of the outstanding ordinary Series "A" shares, as well as all of the common share certificates representing each one of them one ordinary Series "B" share and one ordinary Series "C" share; representing Rassini's capital stock, in terms of the tender offer notice published by GGI on October 31, 2018 (the "Offer"), it is informed that Rassini became aware that GGI has waived to the condition precedent set forth in section 8 "Offer Conditions. Amendments to the terms and conditions of the Offer", subsection d) of the Informative Brochure entailing: "that the Offer Intermediary had received valid Letter of Acceptance and that those letters had not been withdrawn, pursuant to which at least 157,730,222 Shares, which together with the Offeror's Indirect Participation, represent 95% (ninety-five percent) of Rassini's capital stock, have been offered to the Offeror and such Securities have actually been received in the corresponding account on or before the Offer Expiration Date."
GGI has confirmed its intention to carry out the acquisition of the Securities, by means of the Offer, regardless the level of acceptance obtained by the Expiration Date.
In addition, it is informed that, as a result of the foregoing and considering that pursuant to the opinion of the National Securities and Banking Commission, the waiver of the condition by GGI, is considered a significant amendment to the terms of the Offer, the period of the Offer is extended for an additional term of 5 (five) Business Days, establishing the following dates accordingly:
Offer's term: | The term is of 26 Business Days, from November 1, 2018 to December 10, 2018, in the understanding that such period may be extended pursuant to the terms described in the Informative Brochure.
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Offer's Expiration Date: | December 10, 2018, or the subsequent date in which the Offer Term is extended pursuant to the terms described in the Informative Brochure.
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Registration Date with the Mexican Stock | December 11, 2018.
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Settlement Date: | December 18, 2018, it is foreseen that the Settlement Date will be the fourth business day following the Registration Date. |
Finally, it is informed that, by means of the ordinary shareholders meeting of Rassini, dated November 22, 2018, it was approved that Rassini and its subsidiaries guarantee the financing operation of GGI pursuant to the terms and conditions set forth in the Informative Brochure.
About the Company:
Rassini is a leading designer and producer of suspension and break components for the global automotive industry, primarily focused on original equipment manufacturers (OEMs). Rassini is the largest producer of suspension components for light commercial vehicles and the largest vertically integrated producer of brake disks in America, it has eight manufacturing facilities strategically located in Mexico, United States of America and Brazil, as well as five technological centers located in the same countries. The Suspension business products include piers for light and commercial vehicles, springs and hubs. Brake disks, barrels, brake systems joints, as well as some clutch and motor balancers components are produce within the Brake business. The customer base is substantial and diversified, being the main customers: General Motors, Ford Motor Company, FCA, Nissan, Volkswagen, Toyota, MAN, Scania, Mercedes-Benz and Daimler, among others.
Edgar Landeros Mendoza
Rassini, S.A.B. de C.V.
Tel: (5255) 5229-58-76
E-mail: [email protected]
www.rassini.com
SOURCE Rassini, S.A.B. de C.V.
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