ALTAMIR AMBOISE : GFIs two main shareholders act in concert in order to support its development
GFI's two main shareholders act in concert in order to support its development
Acting in concert, Itefin Participation (a Company held by Apax Partners and Altamir) and BG Master Fund plc and Boussard & Gavaudan Holding Limited announce their intention to file a simplified takeover bid on the shares of GFI
Paris, 10 June 2013 - GFI's [FR0004038099 - GFI], two main shareholders, Itefin Participation (a Company held by Apax Partners and Altamir) and Boussard & Gavaudan Asset Management LP, represented by its "General Partner", Boussard and Gauvadan Partners Limited, acting on behalf of BG Master Fund plc and Boussard & Gavaudan Holding Limited, which respectively own 29.99% and 27.9% of GFI, announced today that they have signed a shareholder agreement on 7 June 2013 in order to act in concert. In compliance with applicable regulations, the Concert, through the Infofin Participations entity set up for this purpose, will file a mandatory public tender offer with the Autorité des Marchés Financiers (AMF) for all of the outstanding shares and bonds giving access to GFI's share capital or voting rights which are not yet held by the Concert, at a price of:
- 3.75 euros per share, including the 2012 dividend;
- 5.10 euros per OCEANE;
- 0.35 euros per BSAAR.
The offer price per share values the Company at 204 million euros, which represents a premium of 23.4% over the closing price on 7 June 2013. The Concert is not considering initiating a delisting procedure following completion of the public takeover bid.
The action in concert and the takeover bid project aim at providing GFI with a stable shareholder base in order to pursue its investments and its development.
Gilles Rigal, Partner at Apax Partners, and Emmanuel Boussard, Founder and Chief Investment Officer at Boussard & Gavaudan jointly declared:
"By acting in concert, we reaffirm our full support of GFI's Management and confirm our confidence in its strategy. We share the same commitment to further support the Company in its development, investments and value creation."
The Offer and the draft offer document will be filed with the AMF imminently by Natixis, acting as sole sponsor bank of the offer.
This press release does not, and shall not, in any circumstances be considered as a public takeover bid offering on GFI's shares and bonds by the shareholders acting in concert. In accordance with French law, documents relating to the Offer, including its terms and conditions, will be filed with the AMF. The Offer will be open when declared compliant by the AMF.
Altamir is a listed private equity company with approximately €500 million in assets under management. The objective of Altamir is to grow its net asset value per share (NAV), and to outperform the most relevant indices (CAC Mid & Small, and LPX Europe).
Altamir invests through the funds managed by Apax Partners France, a leading private equity firm in French-speaking Europe, and through Apax Partners LLP, one of the world's leading private equity investment groups. Both firms target buyout and growth capital investments in which they are majority shareholders or lead investors, and help management teams to implement ambitious value creation plans.
Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialization: Technology, Media, Telecom, Retail & Consumer, Healthcare, and Business & Financial Services. The portfolio is also diversified by size and geography: mid-sized companies in French-speaking European countries; and larger companies across Europe, North America and key emerging markets (China, India, Brazil).
Altamir is listed, since its inception in 1995, on the NYSE Euronext Paris exchange, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed on the CAC Small, CAC Mid & Small, CAC All-Tradable and LPX Europe indices, among others. The total number of Altamir ordinary shares in circulation at 31 December 2012 was 36,512,301. For further information, please visit www.altamir.fr
Press and investor contacts - FTI Consulting
Tel : +33 1 47 03 68 10
Arnaud de Cheffontaines
Tel : +33 1 47 03 69 48
Tel : +33 1 47 03 68 14
Altamir Investor Relations
Tel: +33 1 53 65 01 33
 AMF: on the French regulated market, the upward crossing of the 30% threshold of capital or voting rights triggers the obligation to file a tender offer.
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