The Moreira Salles family is studying a possible offer to close Verallia’s capital after a long drop in the actions of the French packaging company, sources familiar with the issue said.
BWSA, which is the Familly Office of the Moreira Salles and the largest shareholder of Verallia, with 28% of the papers, is preparing an offer to acquire the actions they do not have, the sources said. BWSA has been talking to banks for financing to support a possible acquisition offer in the coming weeks, the sources said. An offer could include a significant prize on the current price of Verallia’s stock, one of the sources said.
Verallia’s shares rose up to 20% on Friday (31), the largest intraordinary gain since March 2020, after the news of Bloomberg News. This reduced the decline of shares last year to about 5%, giving the company a market value of about € 3.8 billion (R $ 23 billion). The company had almost € 2.2 billion in debt in late June, according to data compiled by Bloomberg. The shares fell approximately 30% since a peak reached in September 2023.
Negotiations are underway and BWSA may still choose not to make an offer, according to the sources, which they asked not to be identified, as the information is private. Any transaction would probably need the support of the French government, as the state investment company BPifrance has a 7.6% stake in Verallia.
BWSA and Verallia representatives refused to comment.
Verallia is one of the world’s largest glass packaging producers for beverages and food products, according to your site. The company has glass, decoration and shard manufacturing factories in 12 countries. It produces 16 billion bottles and glass jars per year.
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The Moreira Salles family made much of its fortune in the banking sector and through a niobium producer in Brazil. The clan is one of the controllers of Itaú Unibanco and also has investments in energy and the Hawaiian sandals manufacturer, Alpargatas. The family investment company is run by João Moreira Salles, son of 43 years of Pedro Moreira Salles, who is co-president of Itaú. Collectively, the family is worth about $ 26 billion, according to Bloomberg’s billionaires.
In December, BWSA increased its participation in the French service company Elis, becoming its largest shareholder. The investment company said it has no intention of seeking control, although it can buy more shares depending on market conditions.
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