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London and Madrid | 9 February 2011 - Applus+, Spain's leading testing and certification company, launches a public offer valuing AIM quoted Velosi at €100 million.
Velosi is the leading provider of testing and certification services to the oil industry in emerging countries around the world.
Prior to the announcement of the public offer, Applus+ had obtained acceptances from shareholder representing 51% of outstanding shares of Velosi with 94% of shareholders accepting the offer after an extended offer period, Applus+ will exercise its rights to delist the company and effect a compulsory purchase of the remaining shares. Applus+ is owned by the blue chip private equity firm, Carlyle.
SOCIOS FINANCIEROS advises Carlyle and Applus+ together with our UK Global M&A partner, Execution Noble.