Key Highlights:

• Extended offer period until July 30, 2024, 14:00 Mexico City time.

• All-cash offer at Ps.40.50 per certificate.

• 27% premium over December 4, 2023, closing price.

• COFECE approved, no financing condition required.

Source (Business Wire)

Notable Quotes:

Our Take:

The extension of the all-cash tender offer by Blackstone Real Estate and MRP Group highlights the strategic move to provide immediate and substantial value to Terrafina’s shareholders. This offer, with its 27% premium over the unaffected price and a more than 10% premium to the recent closing price, underscores the attractiveness of the deal. The unconditional approval by COFECE and the absence of financing conditions further solidify the offer's strength. This transaction exemplifies Blackstone’s robust track record in executing public company transactions and MRP Group’s deep expertise in the Mexican real estate market. The extended period provides ample opportunity for shareholders to capitalize on this compelling offer.