DELSOL Avocats advises Jean-Michel AULAS during the transfer of the shares in the listed company CEGID GROUP to the consortium made up of the Silver Lake Partners and AltaOne investment funds (April 2016).
Jean-Philippe DELSOL and Henri-Louis DELSOL, partners in the "Mergers-Acquisitions" department, and Vincent GUEVENOUX, lawyer, advise Jean-Michel AULAS and his company ICMI in the planned transfer of his stake in the company CEGID GROUP, French leader in management software and cloud services, to the consortium made up of the Silver Lake Partners and AltaOne investment funds.
The operation will be followed by a mandatory public offering filed with the Autorité des Marchés Financiers at a price set at €62.25 per share, with an additional €1.25 per share should the shares in the public offering represent 95% or more of the share capital and voting rights of the CEGID GROUP, thus allowing the implementation of a squeeze-out.
The price of €63.50 represents a premium of 20% in comparison with the closing price of the CEGID GROUP shares on 15 April 2016 and a premium of 44% in comparison with the average volume-weighted price over the last 12 months. The operation values 100% of the shares issued or to be issued by the CEGID GROUP at 580 million euros.
This intervention confirms DELSOL Avocats’ presence in the listed company mergers and acquisitions sector.