Eiffel Tower: minority shareholders make their voices heard

(CercleFinance.com) - While Société de la Tour Eiffel (STE) carried out a 600 ME capital increase, guaranteed by its majority shareholder, SMABTP, and closed on January 10, MAB Finances announces that minority shareholders representing 'a significant part of the
float' are demanding 'fair compensation'.


These shareholders believe that the operation was "launched in haste" and was carried out in disregard of their interests, since it led to massive dilution in relation to the size of the operation, by robbing minority shareholders.

They report that, despite optimistic financial communication in 2024, STE suddenly evoked a risk of cessation of payments in November.

The accelerated timetable left shareholders little time to react, and the terms of the capital increase were deemed highly disadvantageous, with a massive 86.5% discount to liquidating NAV.

Minority shareholders believe that the funds raised will only solve a short-term cash flow problem, while the operation essentially favors the majority shareholder, strengthening its control to the detriment of minority shareholders. The transparency and sincerity of the financial information are also questioned in their press release.

The minority shareholders are therefore calling for an investigation by the market authorities, and for fair compensation to offset their losses.

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