French caterer Elior to acquire Derichebourg's Multiservices division

Elior SA

20/12/2022 06:30

Dec 20 (Reuters) - French caterer Elior Group  ELIOR.PA 
announced on Tuesday it will acquire its biggest shareholder
Derichebourg's  DBG.PA  Multiservices division (DMS), a tie-up
that will lead to consolidated 2021-2022 revenue of 5.23 billion
euros ($5.54 billion) and approximately 134,000 employees.
    Under a memorandum of understanding (MoU) signed by the
groups, Elior would acquire DMS in exchange for new Elior shares
issued to Derichebourg at 5.65 euros per share, representing a
premium of 119%, and increasing Derichebourg ownership to 48.4%.
    The acquisition has significant potential value creation
with at least 30 million euros in run-rate EBITDA synergies and
a double-digit positive impact on EPS as soon as FY 2024, Elior
said in a statement. 
    The transaction is subject to Elior Group shareholders’
approval at an extraordinary general meeting during April-May of
next year.
    ($1 = 0.9441 euros)
 (Reporting by Federica Mileo; Editing by Tom Hogue)
 ((federica.mileo@thomsonreuters.com; +48587785332;))