(AOF) – Orapi, manufacturer of high-tech products and solutions for hygiene and industrial maintenance, has been informed that Guy Chifflot, chairman of the company’s supervisory board, has agreed to enter into exclusive negotiations with the Group. Paredes to sell him shares in the company held by himself and the companies La Financière MG3F and GC Consult, i.e. a total of 2,315,265 shares representing a total of approximately 34.8% of the capital and 50.7% of the voting rights .
The Paredes Group’s offer was made at a price per share and ORA 2 of the company of 5.88 euros, representing a premium of 29.2% compared to the last price of Orapi on June 15, 2023, and 40 .3% compared to the volume-weighted average closing price of the last 30 trading days preceding this date.
Completion of the acquisition is planned for the end of the third quarter of 2023 and remains subject to the fulfillment of several conditions precedent.
This acquisition – if completed – would be followed by the filing of a public purchase offer for all the securities giving access to the company’s capital or voting rights. To this end, the Company’s Supervisory Board today set up an ad hoc committee responsible for proposing the appointment of an independent expert.
The public offer should take place during the fourth quarter of 2023 and would be followed, if the legal and regulatory conditions are met, by a squeeze-out.
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.