Getlink jumps in Paris with Mundys strengthening in the capital
Buy up to 9.5%, aim for 25% but not control
(Il Sole 24 Ore Radiocor) - Getlink is running at the Paris Stock Exchange after Mundys strengthening stake. The share price of the French company that operates the Channel Tunnel started immediately up and is at the highest level since August 2022. This morning Mundys announced the acquisition of a stake of up to 9.5% in the capital of the company that operates the Channel Tunnel until 2086. The group led by Andrea Mangoni is also aiming to rise to 25% of Getlink without, however, any intention of taking control.
A first tranche, amounting to 3.5% of the capital, will be acquired immediately; Mundys will also have the option to acquire up to a further 6%, subject to obtaining the required regulatory approval, expected by April 2026. Following the acquisition of 3.5%, Mundys will hold 19% of the company's capital and up to 24.9% of the voting rights, thus confirming its position among the group's major shareholders. The entry of Mundys dates back to 2018 and this operation "confirms the long-term commitment", as the group controlled by Edizione and Blackstone as second shareholder pointed out in a note. "It is also part of Mundys' strategy to strengthen its investments in France, a European country of primary importance to which the group attributes strategic value and in which it has been present in the infrastructure sector for more than ten years."
