SFR Group: go-ahead from AMF for planned squeeze-out.

(CercleFinance.com) - The AMF has announced that the planned squeeze-out of SFR Group shares, as filed by BNP Paribas and JP Morgan, acting on behalf of Altice France SA, is compliant with its regulations.


The initiator irrevocably undertakes to acquire, at the unit price of 34.50 euros, all of the existing Altice shares that it does not hold at a price of 34.50 euros each.

The offer covers all existing shares that are currently directly or indirectly held by Altice NV; a maximum of 18,340,983 shares, representing 4.13% of the group's share capital and 4.15% of its voting rights, in addition to 1,986,685 new shares that may be issued in the event of the exercise of the 1,986,685 stock options.

At the close of the offer, the initiator will immediately request the implementation of a mandatory squeeze-out procedure in order to transfer the shares not tendered to the offer, subject to compensation equal to the price of the squeeze-out, i.e. 34.50 euros per share, net of fees.


Copyright (c) 2017 CercleFinance.com. All rights reserved.