26/06/2012
MERCAPITAL DO NOT SUBMIT BINDING OFFER BY TAVEX, BUT NOT DISCARD THE DEAL.
The private equity firm Mercapital has not submitted a binding offer to acquire Tavex, but completed the due diligence on the textile firm. Camargo Correa Group has informed the National Securities Market Commission (CNMV) that the offer was not presented because did not satisfy any of the conditions to which its bid was subject initially, as to reach an agreement with entities to refinance company debt.
Despite this, the negotiations are still open and it is not discarded the purchase.
Mercapital announced last February a takeover offer over Tavex, 49% owned by Brazilian Camargo Correa group (see news).