Carlyle launches takeover bid to delist Envea shares

The noose is tightening. The American investment fund Carlyle Group intends to withdraw from the listing Envea, a French company specializing in air quality monitoring, after a takeover bid whose project was filed on Monday, January 10 with the Financial Markets Authority (AMF). Carlyle Group owns more than 80% of the capital of Envea, via the company Envea Global which it controls, since an agreement signed in July 2020.

According to the proposed public tender offer (OPA) filed, Envea Global undertakes to acquire all the shares of Envea that it does not currently own, “representing 18.06% of the capital”. The price per proposed share is 175 euros. The operation would amount to 53.3 million euros, according to an AFP calculation. In 2020, Carlyle had already spent 180.67 million euros to acquire the company.

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Towards a mandatory delisting

If, following the takeover bid, Envea Global holds more than 90% of the capital, the company intends to initiate a process of squeeze-out from the Paris listing of the remaining shares of the company. Envea manufactures tools for monitoring air quality, emissions and monitoring industrial processes. It ensures that the management of the parent company and its subsidiaries will not be changed after the operation.

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