Silver Lake and AltaOne Capital receive antitrust clearances for their acquisition of a 37.6% stake in Cegid Group from Groupama and ICMI and the resulting mandatory tender offer
(Thomson Reuters ONE) -
Silver Lake and AltaOne Capital receive antitrust clearances for their
acquisition
of a 37.6% stake in Cegid Group from Groupama and ICMI and the resulting
mandatory tender offer
Paris, France, July 4, 2016 - Silver Lake, the global leader in technology
investing, and AltaOne Capital LLP, acting in consortium (the "Consortium"),
announced that they have received antitrust clearances for the pending
acquisition of a 37.6% stake in Cegid Group from Groupama SA, Groupama Gan Vie
and ICMI and the resulting mandatory tender offer (the "Offer").
The European Commission and the Federal Antimonopoly Service of the Russian
Federation have granted their clearances respectively on June 30, 2016 and on
June 21, 2016.
The block purchase will complete once the formal recommendation of Cegid Group's
Board of Directors has been issued, after receipt of the report of the
independent expert, and be followed by the filing of the Offer with the Autorité
des Marchés Financiers at a price of ?61 per share (ex 2015 dividend)[1] and
?44.25 per redeemable warrant.
An extra ?1.25 per share or redeemable warrant will be paid in the case that
securities tendered into the Offer, together with the block purchase, amount to
95% or more of the share capital and voting rights allowing the effective
implementation of a squeeze-out in accordance with Article 237-14 of the AMF
General Regulation.
In addition to the 37.6% stake being acquired through the block purchase,
several major shareholders, representing together an additional 7.8%, have
undertaken to tender their shares into the Offer. Therefore, the 50% acceptance
threshold required to declare the Offer successful shall be met if shareholders
representing circa 4.6% tender their shares into the Offer.
The closing of the block purchase and the Offer are expected to be completed
during the second half of 2016.
***
About Cegid
Cegid is a leading player in the digital transformation of companies, providing
cloud services and enterprise software to private companies and public entities
alike. Cegid addresses the management needs of companies and public entities of
all sizes in the fields of finance, taxation and human resources, and offers
industry-specific solutions to companies in the manufacturing, trade, services
and retail sectors as well as to the accounting profession. Based on
MoBiClo(TM), its technological concept combining Mobility, Business Intelligence
and the Cloud, Cegid's innovation strategy integrates the new ways in which
people use software. Cegid is an international group with more than 2,200
employees, 30 locations in France, and over 15 subsidiaries and offices
worldwide. Cegid serves more than 135,000 client sites and 430,000 users,
including over 150,000 in SaaS mode. In 2015, its revenues exceeded ?300 million
on a pro forma basis. Cegid is listed on Euronext Paris. Please visit
www.cegid.com.
About Silver Lake
Silver Lake is the global leader in technology investing, with over $24 billion
in combined assets under management and committed capital. The firm's portfolio
of investments collectively generates more than $100 billion of revenue annually
and employs more than 210,000 people globally. Silver Lake has a team of
approximately 100 investment and value creation professionals located in New
York, Menlo Park, San Mateo, London, Hong Kong and Tokyo. The firm's current
portfolio includes leading technology and technology-enabled businesses such as
Alibaba Group, Ancestry, Avaya, Broadcom Limited, Cast & Crew, Ctrip, Dell,
Global Blue, GoDaddy, Intelsat, Motorola Solutions, Quorum Business Solutions,
Red Ventures, Sabre, Smart Modular, Solar Winds, Symantec, Vantage Data Centers,
and WME/IMG. For more information about Silver Lake and its entire portfolio,
please visit www.silverlake.com.
About AltaOne Capital
AltaOne is an investment firm based in London and founded in 2015 by Behdad
Alizadeh and Shahriar Tadjbakhsh. AltaOne's investment strategy includes
acquiring significant ownership stakes in a small number of European companies
that are leaders in their markets, and in which it can enhance the long term
value of their businesses as an active professional shareholder. AltaOne's
principals have substantial public and private company investment experience as
anchor shareholders across a broad range of industries, including technology,
media and telecommunications.
This announcement is not an offer to purchase or a solicitation of an offer to
sell any securities. The Offer will be made only pursuant to the offer
documentation which will contain the full terms and conditions of the Offer. The
offer documentation will be subject to review by the AMF and the Offer will only
be opened once the AMF has granted its clearance. Any decision in respect of the
Offer should be made only on the basis of the information contained in such
offer documentation. The Offer relates to the shares of a French company and is
subject to French procedural and disclosure requirements that are different from
those of other jurisdictions, including the United States. In addition, the
members of the Consortium and their respective affiliates may purchase or
arrange to purchase shares of Cegid Group otherwise than pursuant to the Offer,
such as in open market or privately negotiated purchases.
***
Media contact
Silver Lake
Benoit Grange - Brunswick
+33 1 53 96 83 83
bgrange(at)brunswickgroup.com
--------------------------------------------------------------------------------
[1] Following payment by the Company of a ?1.25 dividend per share on May
13, 2016. This price corresponds to the price to be paid to ICMI and Groupama.
Press release EN:
http://hugin.info/172238/R/2025306/752680.PDF
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Silver Lake Technology Management, LLC via GlobeNewswire
[HUG#2025306]
Unternehmensinformation / Kurzprofil:
Datum: 04.07.2016 - 17:41 Uhr
Sprache: Deutsch
News-ID 481420
Anzahl Zeichen: 7404
contact information:
Town:
Menlo Park, CA
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 410 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Silver Lake and AltaOne Capital receive antitrust clearances for their acquisition of a 37.6% stake in Cegid Group from Groupama and ICMI and the resulting mandatory tender offer"
steht unter der journalistisch-redaktionellen Verantwortung von
Silver Lake Technology Management, LLC (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
