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GAM falls in Stock a day after the takeover of Banks

The actions of GAM (General de alquiler de Maquinaria S. A.) have been depreciated, this Thursday, a 25,87%, although its collapse has little to do with the fat

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GAM falls in Stock a day after the takeover of Banks

The actions of GAM (General de alquiler de Maquinaria S. A.) have been depreciated, this Thursday, a 25,87%, although its collapse has little to do with the fateful day that you have lived in the Bags. The unusual activity of the company in the continuous market -with a volume of more than 320,000 operations, when the daily average exceeds by little the 11,000 - has to do with the opa, known by the close of Wednesday, the entrepreneur Francisco J. Riberas has launched on the company. The titles of GAM have started the journey to 1.72 euros, and have been closed to 1.27.

MORE INFORMATION

Francisco Banks (Gestamp) will remain with GAM by 58 million The pessimism is taking hold of the Bags and the Ftse falls to 2.75% in its worst day of the year

The price action is approaching as well the one offered by the president of Gestamp, who performed the operation through a property company. Specifically, this Wednesday came to be known in a relevant fact published by the CNMV that Banks, through Halekulani S. L., has reached an agreement with seven banks to buy its securities to 0,977 euros each. Matadorbet These banks (Santander, Sabadell, Liberbank, BBVA, Kutxabank, Bankia and CaixaBank) represent 63% of the share capital of GAM. The disbursement for this item would be 20.5 million.

To do this you would have to add another 12 million that the employer should pay to be done with the remaining 37% of the firm's machinery and 25.5 million that would be devoted to an enlargement of capital, so that the total amount of the operation is estimated at 58 million. The money from the capital increase would be used to pay the debt of GAM with the banks, who in return would agree to a remove of more than 40 million, as the current debt is estimated at 67.8 million. According to the information forwarded by the company to the CNMV, the agreement is subject to a number of clauses precedent, which was quoted in an in-depth review commissioned by Banks to know the state of the machinery park of GAM.

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