Grupo LALA announces Board of Directors' opinion regarding Voluntary Public Acquisition Offering by shareholder group

MEXICO CITY, Aug. 24, 2021 /PRNewswire/ -- Grupo LALA, S.A.B. de C.V. (BMV: LALAB) announces that its Board of Directors convened in regard to the intention of the shareholder group represented by Control Trust number 410541-7 to initiate a Voluntary Public Acquisition Offering (the "Offer) for up to all the outstanding publicly owned shares of Grupo LALA, as announced on August 23, 2021.

In this regard, Grupo LALA's Board of Directors has authorized, in accordance with the Company's bylaws, the initiation of the aforementioned public offering. In addition, the Board of Directors has received from UBS Casa de Bolsa, S.A. de C.V. ("UBS"), in its capacity as an independent expert hired by the Board's Audit and Corporate Practices Committee, an opinion that the aforementioned shareholders group's offering price is duly justified from a financial point of view and, consequently, is fair to the holders of Grupo LALA's outstanding publicly owned shares. The opinion issued on August 23, 2021 by UBS is available on the websites of the Mexican Stock Exchange, (www.bmv.com.mx) and the Company (www.lala.com.mx), with the understanding that its recipients must review the opinion in its entirety, including the assumptions on which it is based and any exceptions it may include.

The members of Grupo LALA's Board of Directors - except those who had abstained, to avoid any perceptions of conflict of interest, but who joined their vote to that of the majority - after considering the opinion issued by UBS as an independent expert and the opinion of the Audit and Practices Committee, which had convened previously, opined that the price proposed in the Offer is duly justified and fair, from a financial point of view, to the shareholders of the Company.

Further, the members of the Board of Directors who are also shareholders of the Company, and its Chief Executive Officer, Arquímedes Celis Ordaz, expressed to the Board their decision and that of their related parties, to tender their shares not held in the aforementioned trust, as along as the Offer is carried out under its existing terms, and assuming that general economic and market conditions remain stable.

The members of the Company's Board of Directors stated that they do not consider there to be any conflicts of interest with respect to the Offer. 

For more information:
Daniel Espinosa and Israel Rentería, CFA
[email protected] 

About LALA:

Grupo LALA, a Mexican company focused on the healthy and nutritious food industry, has more than 70 years of experience in the production, innovation and marketing of milk, dairy products and beverages under the highest quality standards. LALA operates 29 production plants and 173 distribution centers in Mexico, Brazil, the United States and Central America, and is supported by more than 40,000 employees. LALA operates a fleet that exceeds 7,500 units for the distribution of its more than 600 products which reach more than 628,000 points of sale. LALA®, Nutri® and Vigor® stand out in their brand portfolio.

This release does not constitute an offer or solicitation of any type of action. The securities in question may not be, where appropriate, subject to public offering until, where appropriate, the Comisión Nacional Bancaria y de Valores (CNBV) authorizes the offer under the terms of the Ley del Mercado de Valores (LMV).

Limitation of Responsibilities: This press release may contain forecasts or projections which reflect our current views and expectations regarding our performance, business, and future events. Forecasts include, without limitation, any statement that may predict, indicate, or imply future results, performance or achievements and may contain words such as "believe", "anticipate", "expect", "in our view", "will likely occur", or some other word or phrase with a similar meaning. These statements are subject to certain risks, unforeseen events, and assumptions. We caution that a significant number of factors could cause actual results to differ materially from the plans, objectives, expectations, estimates, and intentions expressed in this report. In no event will we, nor any of our subsidiaries, affiliates, directors, executives, agents, or employees be liable to third parties (including investors) for any investment, decision or action taken in relation to the information released in this press release or for any consequential special or similar damage.

For more information visit: www.lala.com.mx

 "Grupo LALA is listed on the Mexican Stock Exchange under the ticker "LALAB"

SOURCE Grupo LALA, S.A.B. de C.V.

Related Links

https://www.lala.com.mx