Portugal's Bondalti launches $357 mln takeover bid for Spain's Ercros

March 5 (Reuters) - Portuguese industrial group Bondalti has launched a takeover bid worth 329 million euros ($357 million) for all shares of Barcelona-based chemical company Ercros ECR.MC, it said on Tuesday in a filing to Spanish stock market supervisor CNMV.

The offer, to be paid entirely in cash, was made at 3.6 euros per Ercros share, representing a premium of 40.6% over Monday's closing market price.

Bondalti said its goal was to delist Ercros shares.

The deal requires the acceptance of more than 75% of the share capital, as well as regulatory and governmental approvals, it added.

The Portuguese company, which also has its Spanish headquarters in Barcelona, has been operating in Spain for more than 20 years and has the financial backing of Grupo Jose de Mello.

Ercros was not immediately available for comment.

($1 = 0.9219 euros)

(Reporting by Matteo Allievi, editing by David Latona and Louise Heavens)

((matteo.allievi@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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