Press release
Signature of agreements relating to the acquisition of a majority block
of CIFE shares by Groupe Spie Batignolles
Neuilly-sur-Seine and Saint-Herblain, December 5, 2023
As part of the exclusive negotiations described in the press release of November 7, 2023, Embregour SAS (holding company of the Tardy family and controlling shareholder of Compagnie Industrielle et Financière d’Entreprises (hereinafter referred to as “CIFE” or the “Company “), certain members of the Tardy family group
[1]
(together with Embregour SAS, the “Transferors”) and Groupe Spie Batignolles announce the signing of agreements relating to the acquisition, at a price of 61.00 euros per share, of 754,537 shares held by the Transferors
[2]
, representing in total approximately 62.88% of the capital (hereinafter the “Controlling Block”) of CIFE (Ticker: INFE). Indeed, the staff representative bodies of CIFE – ETPO Group met on November 27, 2023 and expressed a positive opinion on the proposed merger with Groupe Spie Batignolles. The Spie Batignolles social and economic committee was informed of this project on November 8, 2023.
The completion of the operation, which could take place during the month of January 2024, remains subject to authorization from the Competition Authority in France and the implementation of several prior operations by CIFE, namely Distribution AGO, the Cash Distribution and the Sale of the Real Estate Sector, as these operations were described in the press release of November 7, 2023.
The completion of the AGO Distribution and the Cash Distribution will be subject to the approval of the shareholders of CIFE called to meet in a combined general meeting on December 18, 2023 at 4:30 p.m. upon first convocation, at the FNTP located 3 rue de Berri – 75008 Paris, Salle Léon Eyrolles, it being specified that the documentation relating to the resolutions presented to shareholders on the occasion of this general meeting appears on the Company’s website at the following address: https://www.groupe-etpo .fr/investors/assemblee-generale/ .
It is recalled that Groupe Spie Batignolles will submit, during the first half of 2024, a draft simplified public purchase offer on the balance of CIFE shares in circulation, at the identical price of 61.00 euros per share.
About Spie batignolles
Spie Batignolles, which achieved a turnover of 2.3 billion euros in 2022, is a major player in the construction, infrastructure and services sectors. It operates in 6 major areas of expertise: construction, civil engineering/foundations, energy, public works, real estate and landscaping and environmental development. Spie Batignolles’ references include emblematic projects such as the renovation of the Maison de la Radio, the EDF Saclay research center, ITER, the Le Havre convention center, the A75, A61, A62, A9, A480 motorway construction sites, aeronautical pavements (Abidjan in Ivory Coast, Lyon, Montpellier, Toulouse, Bordeaux, Perpignan), the MGEN Institute in Le Verrière, the TGI in Strasbourg, the Lyon-Turin rail link and even the work undertaken as part of the Grand Paris. The Group also carries out local upkeep and maintenance interventions throughout the national territory via a network of dedicated agencies. Spie Batignolles positions itself in its markets as a leader in “customer relations” and develops a policy of differentiating partnership offers. Spie Batignolles employs 8,000 people and has 188 locations in France and 10 internationally, particularly in Europe, the Middle East and Africa. Spie Batignolles has given itself the means to lead its development in complete independence. Since September 2003, the Group has been majority controlled by its managers and employees, with the support of Tikehau and EMZ. – www.spiebatignolles.fr
About CIFE – ETPO GROUP
The core businesses of CIFE, which achieved a turnover of €222 million in 2022, are construction (maritime or river works and underwater works – Structures, civil engineering and special works – Building) and real estate (Real estate development – Real estate assembly). With more than 600 employees, the Group is present mainly in mainland France, in the overseas departments, in Africa and in Canada. The Group is listed on Euronext Paris Compartment C – ISIN code FR0000066219 – Ticker: INFE. Contact: [email protected]
[1]
Daniel Tardy, Marie-Noëlle Tardy, Olivier Tardy, Nicole Durieux, Cécile Janicot, Monique Bureau, Gérard Tardy, Adrien Tardy and Jules Tardy.
[2]
It is specified that the 14,800 CIFE shares held solely in usufruct by Daniel Tardy and Françoise Tardy will not be acquired within the framework of the above-mentioned agreements.
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Full and original press release in PDF format:
https://www.actusnews.com/news/83199-2023125-communique_signature_accords.pdf
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