Schedule for the acquisition of the Rebouah family’s controlling stake of Tessi SA by Pixel Holding.
The companies Pixel Holding and Tessi SA have announced via two separate press releases dated 31 May 2016, the signing of an agreement to acquire the majority shareholding stakes of the Rebouah family in Tessi SA for the price of euros 132.25 per share.
The transaction was announced to be completed by the end of the third quarter of 2016.
This acquisition was subject to authorisation by l’Autorité de la Concurrence (The Competition Authority), which was granted on 10 August 2016. It was also subject to a non-opposing decree by the European Central Bank, a proposal from l’Autorité de Contrôle Prudentiel et de Résolution (The Prudential Control and Resolution Authority) due to the change of indirect control of CPoR Devises credit company, a subsidiary of Tessi SA. The decision of non-opposition was obtained on 9 December 2016.
The acquisition of the majority shareholding of the Rebouah family will come to past in the first half of January 2017. It will lead to a public takeover bid over the remaining shares of Tessi SA, at the same price of euros 132.25 per share.
Pixel Holding intends to offer the shareholders of Tessi SA the option of collecting the whole of this amount as the selling price of their shares, or to receive a portion, equal to euros 24,20, as one-off dividend, and to collect the balance, equal to euros 108.05, as the selling price of their shares after the deduction of the dividend paid.
The proponent will issue the detailed information related to the public takeover bid when submitting the offer.
About Tessi SA
Chaired by Marc Rebouah for 35 years, Tessi is the leading provider of document processing solutions and payment systems and also supports companies with the management of their critical components such as documentation, payments, currencies and gold transactions and promotional marketing.
The turnover for the year 2015 amounted to EUR 290M.
The head office is located in Grenoble (France) and the shares are admitted for trading on compartment B of Euronext Paris (ISIN Code: FR0004529147; Mnemonic: TES).
Tessi is the french number one in :
- the areas of acquisition, data processing and cheques processing
- currencies and gold transactions
- the management of deferred promotional operations
- Tessi has over 7,000 employees and generates 1/3 of its turnover globally.
HLDI, a joint stock company, is an industry oriented holding controlled by the Dentressangle family. It is chaired by Dentressangle Initiatives, represented by Norbert Dentressangle as CEO. HLDI is to invest alongside HLD Europe in controlling capacity.
About HLD Europe
HLD Europe is an entrepreneurial holding. Its founders are Jean-Philippe Hecketsweiler, Jean-Bernard Lafonta and Philippe Donnet. HLD Europe’s shareholders are leading entrepreneurs, notably Claude Bébéar (founder of AXA insurance), Norbert Dentressangle (founder of the eponymous logistic group) and Jean-Charles Decaux (CEO and representative of the founding family of JC Decaux, the largest outdoor advertising group).
HLD Europe today owns in particular, Filorga, Sarenza, Coyote, Elivie and has interests in SVR, Tranoï, Gekko, Alchimie and Funbridge.
HLD Europe is committed to the long term investment in European companies, therewith supporting their global expansion and consolidating their leadership. HLD Europe is interested in companies with entrepreneurial flair having the potential of organic or external growth, by improving operating performance and international growth.
HLD Press Contact: DGM Conseil.
Michel Calzaroni / LD : +33 1 40 70 94 26 / +33 6 07 34 20 14 / email@example.com
Olivier Labesse / LD : +33 1 40 70 94 27 / +33 6 16 26 33 58 / firstname.lastname@example.org