Helbor may delist as CVM clears HBR Realty takeover bid
The share swap values Helbor at R$ 2.52 per share ahead of an auction on October 28.
Brazil's securities regulator, the Comissão de Valores Mobiliários (CVM), approved a unified exchange offer by HBR Realty to acquire control of 
Helbor. If completed, the deal will cancel Helbor's registration and delist the company from the B3 Novo Mercado.
The transaction values each Helbor share at R$ 2.52. Helbor shareholders will not receive cash. Instead, they will exchange their shares and receive 0.81553398 HBR share for each Helbor share tendered.
The auction is scheduled for October 28 at 3:00 p.m. on the B3 electronic trading system. The completion of the deal depends on HBR acquiring control of Helbor and gaining approval from holders of more than two-thirds of the outstanding shares qualified to participate in the auction.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
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