Claranova: now owns 100% of PlanetArt

(CercleFinance.com) - Claranova announces that its subsidiary PlanetArt Holdings Inc.
has acquired Société Commune Européenne de Participation (SCEP), thereby acquiring 100% of PlanetArt LLC.

This transaction is in line with Claranova's new "One Claranova" strategy, which aims to make Claranova a more integrated group, focused on operational excellence and profitability.

With this buyout, the Group will own 100% of its two strategic businesses, Avanquest and PlanetArt, fostering synergies and improving Claranova's profitability.

The SCEP buyout enables Claranova to acquire these preference shares, for a total amount of 18.5 ME, i.e. a price per preference share equivalent to 47,000E (or $51,000), representing a 40% reduction compared to the agreement signed in January 2022.

As a reminder, in January 2022, Claranova had signed an agreement to purchase, in stages, up to 65% of SCEP's interest in PlanetArt LLC at a price of $85,000 per preferred share.

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