The Spanish securities regulator has approved the delisting offer for Ercros, a chemical producer controlled by Portuguese group Bondalti.
The regulatory clearance allows the privatization process to move forward after Bondalti successfully completed a takeover bid that gave it control of 77% of the Spanish company's capital.
The approval marks a significant step in Bondalti's consolidation of its European chemical assets.
By removing Ercros from public trading, the Portuguese group can streamline operations and integrate the Spanish producer more closely with its existing portfolio without the reporting and governance requirements of a listed entity.
The delisting follows the successful conclusion of the tender offer, which secured the necessary majority stake to trigger the squeeze-out mechanism.
Remaining minority shareholders will now be subject to the terms of the exclusion offer, effectively ending Ercros's era as a publicly traded company on the Madrid exchange.