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Carbures and Inypsa at the MEDCAP Forum

Carbures and Inypsa at the MEDCAP Forum

Carbures and Inypsa participated yesterday, Wednesday May 30th, in the XIV edition of the Small and Medium Capitalization Companies Forum (MEDCAP) 2018, organized by Bolsas y Mercados Españoles (BME) and held on the Madrid Stock Exchange. Both companies, in the process of merging, were invited to the Discovery Meeting, in which the speakers were Valentín Estefanell, CEO of Inypsa, and Borja Martínez-Laredo, CEO of Carbures. Both focused on informing the market of the respective business models and even shared the stage to give a few glimpses of the progress of the merging process.

After his presentation, Estefanell invited Martínez-Laredo to share the stage and both explained that they are currently immersed in the process of prior due diligence and that they expect it to end during the month of June. One of the aspects in which Martínez-Laredo had an impact was how the merge is being carried out, which includes a previous capital increase of 15.2 million euros from Inypsa, until completing at least 30 million euros of net cash ( including the income derived from the capital increase) for the resulting company.

Our CEO explained the transaction as a merger by absorption between both companies, by virtue of which Carbures shareholders will receive shares of INYPSA in exchange for their shares, thus becoming shareholders of INYPSA. The final picture will be that the shareholding of each company ends up having a weight of 50% in the resulting company. The number of shares of Inypsa that the shareholders of Carbures will receive for each share they hold, will be determined based on the exchange ratio not yet fixed and that will be validated by an independent expert.

Both managers are so convinced of the "complementarity" of their businesses that they already work on four joint projects in Peru, Argentina, Paraguay and Mexico, demonstrating the high industrial and business sense of the operation combined with great potential for synergies, said projects they will only be executed once the authorization of the CNMC has been obtained, if necessary.

Today, Thursday, May 31, MEDCAP 2018 concludes, in which Carbures continues to receive investor interest in the company.

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