Tender offer

Welcome to this webpage dedicated to the tender offer for Visiativ shares, initiated by Alliativ, Visiativ’s controlling shareholder. 

On 11 June 2024, Groupe SNEF, a French engineering company specialising in energy, mechanical systems and digital technologies, acquired a majority stake in the share capital of Alliativ (75.72%), Visiativ’s controlling shareholder holding.

 

Completion of this sale took place as a cash payment, based on a value by transparency reflecting a price of €37.00 per Visiativ share (cum dividend). This price represents a premium of +35.5% compared with Visiativ’s closing share price on 8 February 2024, the day preceding the announcement of the Sale (reference share price on 8 February 2024: €27.30).

 

Alliativ currently holds 46.50% of Visiativ’s share capital and 59.46% of its voting rights.

 

In accordance with the General Regulations of the AMF (Autorité des Marchés Financiers – the French financial markets’ authority),on 18 June 2024, Alliativ (now controlled by Groupe SNEF), filed a draft tender offer for the remaining outstanding Visiativ shares, at the same price of €37.00 per Visiativ share (cum dividend).

 

This public tender offer represents a liquidity opportunity for Visiativ shareholders, with a premium of 35.5% to the last stock market price before the announcement.

 

If the conditions are met at the closing of the tender offer, Alliativ will request implementation of a squeeze-out procedure with respect to the Visiativ shares not tendered in the offer.

 

The timetable for this tender offer is as follows:

 

  • 11/07/2024 Opening of the offer for 25 trading days
  • 14/08/2024 Closing of the offer
  • 21/08/2024 Publication of the notice of result of the offer by the AMF
  • 23/08/2024 Settlement-delivery of the offer
  • 02/09/2024 If the offer is successful, reopening of the offer for 15 days of trading
  • 20/09/2024 Closing of the reopened offer
  • 25/09/2024 Publication of the notice of result of the reopened offer by the AMF
  • 27/09/2024 Settlement-delivery of the reopened offer

Below, all the press releases and documents in connection with this draft tender offer:

Le 10/07/2024

Offer document prepared by Alliativ

Offer document prepared by Alliativ (controlled by Groupe SNEF) - Proposed public tender offer for the shares of Visiativ initiated by Alliativ (controlled by Groupe SNEF)

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Le 10/07/2024

Reply note prepared by Visiativ

Reply note prepared by Visiativ - Proposed public tender offer for the shares of Visiativ initiated by Alliativ (controlled by Groupe SNEF)

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Le 10/07/2024

Press release relating to the filing of the reply note

Press release relating to the filing of the reply note to the public tender offer for the shares of Visiativ initiated by Alliativ (controlled by Groupe SNEF) and presented by CIC

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Le 19/06/2024

Draft reply prepared by Visiativ (french only)

Draft reply prepared by Visiativ - Proposed public tender offer for the shares of Visiativ initiated by Alliativ (controlled by Groupe SNEF) (french only)

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Le 19/06/2024

Press release relating to the filing of a draft reply note to the public tender offer (french only)

Press release relating to the filing of a draft reply note to the public tender offer for the shares of Visiativ initiated by Alliativ (controlled by Groupe SNEF) and presented by CIC (french only)

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Le 18/06/2024

Draft offer document prepared by Alliativ (french only)

Draft offer document prepared by Alliativ (controlled by Groupe SNEF) - Proposed public tender offer for the shares of Visiativ initiated by Alliativ (controlled by Groupe SNEF)

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