Bolloré up on Paris stock exchange after reorganisation announcement
Three buyout offers will be launched and either cash or shares in Universal Music have been put on the table. However, approvals are awaited
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(Il Sole 24 Ore Radiocor) Bollore's shares were up on the heels of the announcement of the group's reorganisation, which will involve three 'buyout offers'. The stock is up 7.5% to €6.08, compared with a Cac40 index that is up 0.37%.
The multinational, which has interests in the logistics, media and energy sectors, announced the pgroup reorganisation project, which involves the launch of three takeover offers followed by a mandatory squeeze-out on shares in Compagnie du Cambodge, Financiere Moncey and Societe Industrielle et Financiere de l'Artois. In detail for Compagnie du Cambodge, €93 per share or 4.07 shares of Universal Music Group (UMG) were put on the table. For Financiere Moncey, €118 or 5.17 shares of UMG for each security and finally for Societe Industrielle et Financiere de l'Artois €9,300 or 407 shares of UMG for each security. The three transactions will take place after the completion of the mergers of Société des Chemins de Fer et
Compagnie du Cambodge's Tramways du Var et du Gard on the one hand and Financiere Moncey's Compagnie des Tramways de Rouen on the other, which will be put to a vote by the shareholders of these companies on 21 October. However, completion of the offers will be subject to regulatory approval.
