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BRIEF-PCAS announces project of strategic combination between Novacap and PCAS
May 15, 2017 / 5:33 PM / 3 months ago

BRIEF-PCAS announces project of strategic combination between Novacap and PCAS

May 15 (Reuters) - PCAS SA:

* PROJECT OF STRATEGIC COMBINATION BETWEEN NOVACAP AND PCAS THROUGH A SALE OF BLOCKS OF SHARES FOLLOWED BY A TENDER OFFER

* PCAS WOULD JOIN NOVACAP GROUP AS A STAND-ALONE AND AUTONOMOUS COMPANY

* NOVACAP HAS OFFERED TO PURCHASE BLOCKS OF SHARES FROM CERTAIN PCAS SHAREHOLDERS REPRESENTING IN AGGREGATE MORE THAN 50 PCT OF THE COMPANY’S SHARE CAPITAL AND VOTING RIGHTS

* AS PART OF COMBINATION, NOVACAP ENTERED INTO AN AGREEMENT WITH EXIMIUM, PCAS’S MAIN SHAREHOLDER, TO ACQUIRE C. 29.5 PCT OF SHARE CAPITAL OF COMPANY AT A PRICE OF EUR 17 PER SHARE

* THIS ACQUISITION IS SUBJECT TO FIRST CONDITION: ACQUISITION OF BLOCKS RESULTING IN NOVACAP HOLDING MORE THAN 50% OF COMPANY'S SHARE CAPITAL AND VOTING RIGHTS

* THIS ACQUISITION IS SUBJECT TO SECOND CONDITION : CLEARANCE FROM RELEVANT ANTITRUST AUTHORITIES

* ACQUISITION OF PCAS BY NOVACAP WOULD BE FINANCED BY A MIX OF DEBT AND NEW EQUITY FROM ITS MAIN SHAREHOLDERS: EURAZEO, ARDIAN AND MERIEUX DEVELOPPEMENT Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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