Brief: Sopra Steria Announces Plans To Acquire CS Group

CS SA

28/07/2022 06:57

July 28 (Reuters) - Sopra Steria Group SA  SOPR.PA :
    * SOPRA STERIA ANNOUNCES PLANS TO ACQUIRE CS GROUP
    * AGREEMENT AIMED AT ACQUIRING, AT PRICE OF EUR 11.50 PER
SHARE,
16,033,492 ORDINARY SHARES REPRESENTING A TOTAL OF 65.26% OF
SHARE CAPITAL OF CS GROUP
    * ACQUISITION IN CASH OF THESE SHARES WOULD LEAD TO FILING
BY
SOPRA STERIA OF A SIMPLIFIED PUBLIC TENDER OFFER
    * TRANSACTION EXPECTED TO BOOST EARNINGS PER SHARE BY 1.0%
IN 1ST
YEAR, AND BY 4.0% IN 2ND YEAR (2024) TAKING INTO ACCOUNT
SYNERGIES GENERATED BY TIE-UP
    * TRANSACTION, FOR 100% OF SHARE CAPITAL, WOULD AMOUNT TO
EUR
282.5 MILLION, WITHOUT TAKING INTO ACCOUNT EUR 3.2 MILLION IN
NET DEBT
    * TRANSACTION IS EXPECTED TO BE FINALISED BY END OF Q1 2023
    * POST-TRANSACTION EBITDA LEVERAGE AT YEAR-END 2022 WOULD BE
AROUND 1X

Source text for Eikon:  ID:nBw5LQ3k0a 
Further company coverage:  SOPR.PA 

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