MAPFRE FAMILIAR Compañía de Seguros y Reaseguros, S.A. made an offer to acquire remaining 3.99% stake in Funespaña, S.A. for €5.5 million.
July 25, 2018
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MAPFRE FAMILIAR Compañía de Seguros y Reaseguros, S.A. made an offer to acquire remaining 3.99% stake in Funespaña, S.A. (BME:FUN) for €5.5 million on July 25, 2018. As part of the deal, Funespaña will execute a tender offer for 0.74 million shares of Funespaña at a price of €7.5 per share. The transaction is subject to approval by the general shareholders meeting of Funespaña. The Board of Directors of MAPFRE has approved the deal. As of October 11, 2018, shareholders of Funespaña approved the transaction. The deal is approved by Spain's regulator CNMV. As per announcement made on November 2, 2018, the acceptance period of this offer starts from November 5, 2018, and end on November 26, 2018. As on November 30, 2018, the delisting takeover bid has been accepted by 88.9% of shareholders.
Funespana SA is a Spain-based company principally engaged, through its subsidiaries, in the provision of funerary services. The Companyâs activities include the construction and management of cemeteries, operation of funeral parlors and installation and maintenance of crematory ovens, as well as it provides hearse transport services. The Company is also active in the arrangement of burials, supply of gravestones and flowers, transport and repatriation of human remains, as well as in the organization of masses, memorials and wakes. It is a parent of Grupo Funespana, a group which comprises a number of controlled entities. The Company operates through Funerarias Reunidas del Bierzo SA and Servicios Funerarias Lusem SL.
FUNESPANA SA 
