(CercleFinance.com) – Makheia Group and NetMedia Group clarified on Monday the main lines of their merger project, which is supposed to give birth to one of the top five independent French communication groups.
The proposed merger-absorption by Makheia of NetMedia Group was thus unanimously approved last Thursday by a board of directors at Makheia.
The exchange ratio proposed for the merger shows a parity of 8,727 Makheia shares for one NetMedia share.
As part of the operation, Makheia would issue 255 million new shares with a nominal value of 0.10 euros, which would increase its capital from five to 30.5 million euros.
At the end of the transaction, the current shareholders of Makheia would hold only 13.2% of the capital of the new group, those of NetMedia controlling approximately 83.5% of the combined entity.
The shareholders of Makheia and NetMedia will be called upon to decide on the merger project by the end of the year.
Their merger should make it possible to create a new communication group, leader in France in ‘BtoB’ media, digital communication and marketing content.
The dilutive nature of the operation for the current shareholders of Makheia weighed heavily on the title, which signed Monday the strongest decline of the Parisian market with a loss of 21%.
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