(Boursier.com) — Electricity and Water of Madagascar (EEM) returns to the sale of its stake in Gascony. EEM and the simplified joint stock company Attis 2 concluded, on November 28, a memorandum of understanding for the off-market sale of all 2,448,729 Gascogne shares held by EEM, in the form of 216,642 bearer shares and 2,232,087 registered shares. They represent 10.07% of the capital of the company Gascogne SA constituting the Block.
The sale of EEM’s minority stake in Gascogne is completed at a price of 4 euros per share, or 9,794,916 euros for the entire block. It is not subject to any suspensive conditions.
The two parties have undertaken to complete the transfer of the block no later than December 19. Settlement and delivery of the transaction should take place within two working days after the sale.
It is recalled that the simplified joint stock company Attis 2 is the main shareholder of the Gascogne company, of which it holds 70.60% of the capital and 77.52% of the voting rights before transfer of the Block. The shareholders of Attis 2 are made up of Biolandes Technologies, the Crédit Agricole group through the entities managed by Idia Capital Investissement and Crédit Mutuel Equity SCR.
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