Sopra Steria to Acquire Controlling Stake in French Digital Services Firm Sodifrance.
MANews-(C)2009-2020
France-based digital transformation specialist Sopra Steria (PAR: SOP) (Euronext Paris: SOP) has signed an acquisition agreement with a view to acquiring a controlling interest in French digital services firm Sodifrance SA, corresponding to 94.03% of its share capital, the group said.
Following the 21 February 2020 press release announcing that they had entered into exclusive negotiations, Sopra Steria and Sodifrance's majority shareholders have announced that they have signed an agreement for the indirect acquisition by Sopra Steria (via the acquisition of HP2M SAS and STRATEG'e.BOSS SAS) of a controlling interest in Sodifrance SA, corresponding to 94.03% of its share capital, for an overall fixed price equivalent to EUR 62.8m for 100% of the share capital.
The acquisition of this controlling interest would be paid entirely in cash. In accordance with applicable regulations, following the acquisition of the controlling interest, Sopra Steria will file a proposed delisting offer (offre publique de retrait) with the AMF (France's financial markets regulator) followed by a mandatory delisting procedure for the remaining shares not tendered to the offer, at a price of [euro]17.99 per share.
Pursuant to Article 261-1-I-1A[degree sign] and 2A[degree sign], and Article 261-1-II of the AMF's General Regulation, an independent expert will be appointed by Sodifrance's Supervisory Board to assess the fairness of the financial conditions of Sopra Steria Group's delisting offer.
Founded in 1986, Sodifrance is a French digital services company with 2019 revenue of EUR 106.5 m and an operating margin of 6.4%.
It has substantial expertise in the insurance and pensions/social security/health sector (50% of revenue)...
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