Société de la Tour Eiffel Shares Soon to be Delisted: SMABTP Initiates Mandatory Buyout at €8.20
SMABTP Group has submitted a public buyout offer followed by a mandatory buyout for Société de la Tour Eiffel shares at a unit price of €8.20 per share to the AMF.
Details of the Public Buyout Offer
The public buyout offer, presented by Portzamparc, aims to acquire all the shares of Société de la Tour Eiffel not held by the SMABTP group, excluding 18,654 treasury shares and 3,728 free shares subject to a separate liquidity mechanism. The total maximum number of shares targeted is 6,162,673, representing 4.65% of the capital and 4.65% of the voting rights. The duration of the public buyout offer is set at ten trading days, in accordance with the provisions of Article 236-7 of the AMF General Regulation.
Implementation of the Mandatory Buyout
Following the public buyout offer, a mandatory buyout will be implemented in accordance with Articles L. 433-4 II of the Monetary and Financial Code and 237-1 and subsequent of the AMF General Regulation. Shares not tendered in the offer will be transferred to the initiators in return for compensation equal to €8.20 per share, net of all expenses. This procedure will result in the delisting of Société de la Tour Eiffel shares from compartment B of Euronext Paris on the day the mandatory buyout becomes effective.
