Cefour Wine & Beverage has together with listing company “Aktietorget” decided to move trading in Cefour-shares to Aktietorget’s “observation list”.
The decision comes amid the bid by a Croatian company which is currently prepared. As we have written about, Cefour has announced that a due diligence process is on its way which is expected to be completed by the end of November. Cefour and Aktietorget believe that due to this fact, there will be an extended period of uncertainty which has led to the decision to move the share to the observation list.
Cefour has hired an external consultant who conducts a valuation of the company and its operations. The report is supposed to support the Board in its view on the company’s valuation considering a potential bid from the Croatian company.
Cefour stated on Tuesday July 30th, that it has been discussed that the bid must be in the region of 0,40 – 0,45 SEK per share, which corresponds to a company’s valuation of about SEK 170 – 195 million. The Croatian company is apparently keen to integrate Cefour’s packaging solution in its existing activities and sees a takeover of Cefour as an opportunity to achieve synergies and access Cefour’s global sales channels with their own wines to reach a global market.
Since the statement on July 30th, Cefour has announced several new interesting contracts. As we speak, Cefour is participating at the ECRM event in San Diego, where selected suppliers have the opportunity to present their products for purchasing managers from the USA and Latin America. According to a previous statement from Cefour’s CEO, his meeting schedule for the event is fully booked and he will present the Easy Wine Glass to companies like Aldi, Walgreens, K-Mart, Delhaize America, Circle K, Woolworths SA, Murphy Oil, Coast Guard Exchange and many more.
Obviously, any new contracts that come out of this event will impact the valuation of Cefour positively, so we will look out for any comments regarding this in the coming days.