Pizzorno Environment: Paprec Gets Green Light to Increase Stake to 50.64%
The French Competition Authority has approved Paprec's acquisition of an additional 30.64% stake in Pizzorno Environment, removing the last contingent condition of the transaction.
Unconditional Approval from the Competition Authority
On June 4, 2026, Paprec received approval from the French Competition Authority to acquire a 30.64% stake in Pizzorno Environment from the Pizzorno-Devalle family at a price of €62.50 per share. This approval removes all contingent conditions related to the transaction, which will be completed in the coming days.
Shareholding Structure After the Sale
Following the transaction, Paprec will hold 50.64% of the capital and 50.02% of the voting rights of Pizzorno Environment. The Pizzorno-Devalle family will retain 21.18% of the capital and 30% of the voting rights, remaining the second largest shareholder. Paprec and the Pizzorno-Devalle family will continue to act in concert, as detailed in the press release of January 19, 2026.
Upcoming Simplified Public Offer
Paprec and the Pizzorno-Devalle family intend to submit a mandatory simplified public tender offer for Pizzorno Environment shares to the Financial Markets Authority at a price of €62.50 per share in the coming weeks. It is specified that the two entities do not intend to request the implementation of a compulsory withdrawal following the offer.
