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SAG GEST Solucoes Automovel Globais SGPS SA Announces Spin Off of Brazilian Subsidiary Unidas SA


Monday, 22 Jul 2013 06:17pm EDT 

SAG GEST Solucoes Automovel Globais SGPS SA announced that on July 22, 2013 its Brazilian subsidiary Unidas SA approved a primary and secondary public offering of common stock issued by Unidas SA (the Shares) to be carried out by Unidas SA and certain shareholders (Selling Shareholders) in Brazil, on the non-organized over-the-counter market. Shares in the primary offering shall be issued by Unidas SA as a result of a capital increase within the limits of its authorized share capital. The number of Shares initially offered (notwithstanding the Additional Shares) may be increased by up to 15%, under the same conditions and at the same price of the primary offer Shares (Supplementary Shares), as an option to be granted to the entity acting as a stabilizing agent for the Offer in the event that the latter should raise excessive demand. The number of Shares initially offered (notwithstanding the Supplementary Shares) can be increased up to 20%, under the same conditions and at the same price as the Shares initially offered (Additional Shares). Unidas SA also approved that it will be listed and its common stock will be admitted to trading on the Novo Mercado listing segment, a special segment of the BM&FBOVESPA SA. 

Company Quote

8.0
0.5 +6.67%
9 Nov 2012