The APRIL Group announces today the acquisition, by Andromeda Investissements, of Persée Participations’ stake in APRIL.
Andromeda Investissements, a holding company indirectly owned by funds managed by CVC Capital Partners, reported that it has entered into, on 30 December 2019, a share purchase agreement with Persée Participations relating to the 4,178,649 APRIL shares held by Persée Participations and representing 10.18% of the share capital and 10.18% of the voting rights in APRIL, at a price of €22 per APRIL share. Persée Participations will reinvest part of the sales proceeds in equity instruments alongside CVC and Evolem. The completion of the transaction is effective today.
Andromeda Investissements now holds 99.01% of the share capital and 98.71% of the voting rights in APRIL.
As indicated during the public tender offer initiated on 11 July 2019, Andromeda Investissements confirms its intention to file a buy-out offer followed by a squeeze-out, in order to acquire the outstanding shares in APRIL. This buy-out offer will be submitted to the review of the Autorité des Marchés Financiers (“AMF”) as soon as possible after the announcement of the annual results of the APRIL Group for financial year 2019.
In accordance with article 261-1 of the AMF general regulations, the Board of Directors of APRIL will appoint an independent expert who will draw up a fairness opinion related to the financial terms of the buy-out offer followed by a squeeze-out.