(Boursier.com) — Following the announcement of December 4, 2023, SAS Shipping Agencies Services Sàrl (SAS), subsidiary of MSC Mediterranean Shipping Company SA, confirms having entered into a unilateral promise to purchase for the acquisition of the shares held by Yves Revol and Olymp in Clasquin HER. These represent 42.06% of the share capital, at a price of 142.03 euros per share.
This price represents a premium of 13.17% compared to the last closing price and of 14.22% compared to the weighted average volume over 60 trading days preceding the announcement of the offer, and of 59.94% per compared to the last closing price and 70.42% compared to the weighted average volume over 60 trading days preceding the announcement of the entry into exclusive negotiations between Mr. Yves Revol and Olymp, on the one hand, and SAS, on the other. on the other hand, dated December 4, 2023.
Finalization of the transaction, which will be subject to obtaining authorizations from the relevant regulatory authorities, is expected to occur by the end of the year.
SAS will subsequently file with the Financial Markets Authority (AMF) a public purchase offer for the balance of Clasquin SA shares, at the same price of 142.03 euros per share. SAS intends to implement a squeeze-out following the offer if the applicable conditions are met.
Quoting…
The transaction is supported by the CEO of Clasquin and other key members of the management team, who have committed to tender their Clasquin shares in the public tender offer of SAS, representing in total approximately 8.5% of the share capital.
The Board of Directors of Clasquin SA, meeting on March 15, formed an ad hoc committee composed mainly of independent directors, with a view to proposing to the Board of Directors the appointment of an independent expert responsible for preparing a report on the financial conditions of the offer, the name of which will be communicated upon designation. The ad hoc committee will monitor the work of the independent expert and will issue a recommendation on the offer to the Board of Directors.
The Board of Directors of Clasquin SA will meet again to issue its reasoned opinion on the offer after having taken note of the report of the independent expert, the recommendation issued by the ad hoc committee and the opinion of the Social Committee and Economics of Clasquin SA.
The Clasquin Group would continue to operate its activities with its teams and under the Group’s brands. : Clasquin, Timar, LCI-Clasquin Cargolution, CVL, Exaciel, Art Shipping International and Transports Petit in particular.
Remember that Clasquin shares are currently trading at 125.5 euros.