Cerberus Capital Management, L.P. and Orion Capital Managers, L.P. made a mandatory tender offer to acquire remaining 3% stake in Sotogrande, S.A. for €6 million.

Cerberus Capital Management, L.P. and Orion Capital Managers, L.P. made a mandatory tender offer to acquire remaining 3% stake in Sotogrande, S.A. (CATS:STG) for €6 million in cash on November 14, 2014. Cerberus Capital and Orion Capital offered to acquire remaining 1.3 million shares of Sotogrande for €4.43 per share. As of May 21, 2015, 0.86 million shares have been tendered.

Alejandro Ortiz, Fernando Ramos de Lucas, Javier García Cueto, Lucía Alonso of Linklaters LLP acted as the legal advisor and Ernst & Young acted as the independent expert for Cerberus Capital Management and Orion Capital Managers.