Groupe Flo is preparing to leave the Stock Exchange where it is no longer a recipe

Groupe Flo returns its apron! The commercial catering group, at the head of the Hippopotamus chain and several major Parisian brasseries such as La Coupole, Le Terminus Nord or even Le Vaudeville, will soon leave the kitchens of the Bourse. He entered it through the door of the secondary market in 1998. In twenty-four years of stock market life, Groupe Flo has experienced many crises, including, recently, the Covid-19 pandemic and the purchasing power crisis. The last time it posted a positive net result was in 2013… On the stock market, the action paid the price, falling for a time in the penny-stock category before being l object of a grouping.

On Friday, the restaurateur’s main shareholder, Groupe Bertrand, announced the conclusion of an agreement with Swisslife Gestion Privée and Focal to take over their blocks of shares, i.e. around 8.87% of the capital (5.19% of the voting rights ), so that he now holds 91.94% of the interests of Groupe Flo (95.19% of the voting rights). The operation was carried out at 21 euros per share. It is at this same price that Groupe Bertrand wishes to launch a public withdrawal offer (OPR) on the securities still in circulation. It should take place in the fourth quarter. Given a current share price of 12.40 euros, this shows a greedy premium of 69.3%. The takeover bid will be followed by a squeeze-out.