BOLLORE : PROPOSED PUBLIC BUYOUT OFFERS FOLLOWED BY MANDATORY SQUEEZE-OUTS ON THE SHARES OF COMPAGNIE DU CAMBODGE, FINANCIÈRE MONCEY AND SOCIÉTÉ INDUSTRIELLE ET FINANCIÈRE DE L’ARTOIS
12 September 2024 - 7:08PM
UK Regulatory
BOLLORE : PROPOSED PUBLIC BUYOUT OFFERS FOLLOWED BY MANDATORY
SQUEEZE-OUTS ON THE SHARES OF COMPAGNIE DU CAMBODGE, FINANCIÈRE
MONCEY AND SOCIÉTÉ INDUSTRIELLE ET FINANCIÈRE DE L’ARTOIS
PRESS RELEASE
September 12,
2024
PROPOSED PUBLIC BUYOUT OFFERS FOLLOWED BY
MANDATORY SQUEEZE-OUTS ON THE SHARES OF COMPAGNIE DU CAMBODGE,
FINANCIÈRE MONCEY AND SOCIÉTÉ INDUSTRIELLE ET FINANCIÈRE DE
L’ARTOIS
As part of the rationalisation and
simplification of the Group's structures, Bolloré SE announces its
intention to launch three buyout offers followed by mandatory
squeeze-outs on the shares of Compagnie du Cambodge, Financière
Moncey and Société Industrielle et Financière de l’Artois.
These tender offers will consist of alternative
tender offers payable either in cash (cash offer) or in UMG shares
(exchange offer) or a combination thereof for respectively all the
shares of Compagnie du Cambodge, Financière Moncey and
SIF Artois which are not held by Bolloré SE and the other
companies of the Bolloré Group. The proposed terms are as follows
and are to be considered, regarding Compagnie du Cambodge and
Financière Moncey, after the split of the nominal value of their
shares by 100 which will be decided by the extraordinary general
meeting of their shareholders to be held on October 21, 2024:
- for the Bolloré
SE’s tender offer on Compagnie du Cambodge:
- Cash offer: EUR
93 per Compagnie du Cambodge share, reflecting a 27 % premium over
the 1-month VWAP as of September 11, 2024;
- Exchange offer:
4.07 Universal Music Group (UMG) shares for 1 Compagnie du Cambodge
share;
- for the Bolloré
SE’s tender offer on Financière Moncey:
- Cash offer: EUR
118 per Financière Moncey share, reflecting a 44 % premium over the
1-month VWAP as of September 11, 2024;
- Exchange offer:
5.17 UMG shares for 1 Financière Moncey share;
- for the Bolloré
SE’s tender offer on Société Industrielle et Financière de
l’Artois:
- Cash offer: EUR
9,300 per Société Industrielle et Financière de l’Artois share
reflecting a 71 % premium over the 1-month VWAP as of September 11,
2024;
- Exchange offer :
407 UMG shares for 1 Société Industrielle et Financière de
l’Artois share.
The financial terms of each of these tender
offers will be subject to an independent appraisal in accordance
with the applicable regulations.
These offers will be implemented after
completion of the mergers of Société des Chemins de Fer et Tramways
du Var et du Gard by Compagnie du Cambodge on the one hand and
Compagnie des Tramways de Rouen by Financière Moncey on the other
hand, which will be submitted to the vote of the shareholders of
these companies on October 21, 2024.
Completion of these offers is conditional upon
the French Financial Markets Authority (AMF) clearance
decision.
The draft offer documents for these three tender
offers, which will be filed with the AMF on September 13,
2024, will be uploaded as from such date on Bolloré SE’s website
(www.bollore.com) and, for its own part, on the websites of each of
the three target companies (www.compagnie-du-cambodge.com;
www.financiere-moncey.fr; www.sif-artois.com).
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