Applus draws takeover interest from Apollo, Apax

4 May 2023, 12:00 am

1 min read

Spanish savings bank Caja Madrid's Chairman Miguel Blesa (L), Spain's water treatment company Aguas de Barcelona's Chairman Ricardo Fornesa (C) and Spanish electricity company Union Fenosa's Chairman Antonio Basagoiti join hands before a news conference in Madrid July 28, 2005. Caja Madrid will buy a 19 percent stake in techonology and services joint venture Applus+, run by Union Fenosa and Aguas de Barcelona. REUTERS/Susana Vera SV/LA

Shares of Spanish industrial testing company Applus jumped 14% after Reuters exclusively reported on May 4 that the company had attracted interest from private equity firms Apax, Apollo, I Squared, and TDR. Applus confirmed in a statement through Spanish market regulator on May 5 that it has received unsolicited approaches from investors, granting them access to information for their due diligence. Reporting continued to push the shares on May 5 to the highest since 2020.