The shares of Cia. Hering (HGTX3) will be replaced by shares of Soma (SOMA3) as part of the business combination process, after the acquisition of the retailer by Grupo de Moda.
The replacement of shares is scheduled to take place on September 20, according to a material fact released by Hering this Thursday (2nd).
In a statement, the fashion retailer explains that the operation will start with the exchange of Hering common shares by preferred shares of the privately held company Wonderful city, which must occur on the 17th.
Subsequently, the shares of Hering converted into shares of Cidade Maravilhosa will be incorporated into the SUM3 shares and the shareholders will migrate to Soma’s shareholding structure.
The companies’ extraordinary general meetings are scheduled for September 14th.
To receive the final amount of the installment in cash and the final amount of Soma Group shares, Hering shareholders must have a long position in the HGTX3 shares at the end of trading on September 17th.
On the 20th, the Cia. Hering shares will no longer be traded on B3 (B3SA3) and the company’s shareholders will become holders of shares of Grupo Soma under the ticker SUM3.
Merger of Cia. Hering and Grupo Soma passes at Cade without restrictions
THE incorporation of Cia. Hering by Grupo Soma, owner of the Animale and Farm brands, was approved without restrictions by the General Superintendence of the Administrative Council for Economic Defense (Cade).
The decision was published in the Official Gazette of the Union (DOU) on July 1st. With the closing of the deal, Hering becomes a wholly owned subsidiary of Soma. Closed in April this year, the agreement with the retailer places Grupo Soma on a new level among national companies.
Until now, the company was limited to operating in the premium market. Now go to the mass segment. The negotiation between the companies involved shares, but also a cash payment of R$1.5 billion.
“As a strategic justification for the business, Soma believes that the operation represents an opportunity to expand its total market, reaching different audiences, given the complementarity of the applicants’ portfolios, in addition to resulting in operational synergies both through revenue growth and gross margin and through greater efficiency in expenses and investment. Cia. Hering believes that the operation represents a good business opportunity and capitalization”, cites the opinion published by Cade on the business.
At 11:15 am this Thursday, the HGTX3 shares, of Cia. Hering, operated at a drop of 0.76% on the Ibovespa, worth R$ 36.64. already the SUM3 shares, of the Soma Group, fell 3.15% at B3, worth R$ 16.91.
In the last 12 months, the Hering accumulated an appreciation of 79.09% in the value of its shares. Grupo Soma accumulates an appreciation of 51.97% in the same period.