(Boursier.com) — Flo Group took note of the agreement relating to the acquisition of blocks representing approximately 8.87% of the capital of Groupe Flo by Groupe Bertrand, its controlling shareholder and of the announcement of its intention to file a draft public offer of withdrawal followed by a mandatory withdrawal on Groupe Flo at a price of 21 euros per share. Groupe Bertrand, controlling shareholder of Groupe Flo, has today concluded, through Bertrand Invest, an agreement with Swisslife Gestion Privée, as well as with Focal, shareholder of Groupe Flo, relating to the acquisition from several shareholders of blocks of shares representing a total of 679,062 shares, or approximately 8.87% of the capital and 5.19% of the voting rights of Groupe Flo, for a price per share of 21.00 euros. Following this acquisition, Groupe Bertrand holds 91.94% of the capital and 95.19% of the rights. Groupe Bertrand has also announced its intention to file with the Autorité des marchés financiers, during the fourth quarter of 2022, a proposed takeover bid followed by a squeeze-out on Groupe Flo shares that it does not hold at the end of of this acquisition at a price identical to that of the acquisition, i.e. 21 euros per share. The objective is to delist Groupe Flo.
Groupe Flo will convene, as soon as possible after the completion of this acquisition, its board of directors to examine the follow-up to be given to the offer announced by Groupe Bertrand, and in particular set up an ad hoc committee made up of a majority of directors. independents and appoint an independent expert to provide a fairness opinion. The identity of the independent expert who will be appointed by the Board of Directors on the proposal of the ad hoc committee will be the subject of a Groupe Flo press release in accordance with the regulations.
At the Company’s request, Euronext suspended Groupe Flo’s listing today, immediately after learning of the agreement relating to the aforementioned acquisition. It is expected that trading will resume when the market opens on October 10.
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