Colas: planned delisting and new governance structure
(CercleFinance.com) - Bouygues has announced its intention to file with the AMF a draft public buyout offer, followed by a squeeze-out for the Colas shares that it does not hold in the next few days, at a price of E175 per share.
This operation is part of a simplification of Colas and Bouygues' capital structure. Note that at present, the conglomerate holds almost all (96.8% of the capital and 98% of the voting rights) of its road-building subsidiary.
In addition, Colas' Board of Directors has decided to separate the functions of non-executive Chairman of the Board and Chief Executive Officer, entrusted respectively to Pascal Grangé and Pierre Vanstoflegatte.
Following Pascal Grangé's appointment as Chairman of the Board of Directors, Marie-Luce Godinot becomes Bouygues' permanent representative on the Board and Chair of Colas' Audit Committee.
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