Mr. Yves REVOL and OLYMP, controlling shareholders of Clasquin SA, announce that they have entered into exclusive negotiations with SAS Shipping Agencies Services Sàrl (“SAS”), a subsidiary of MSC Mediterranean Shipping Company SA, world leader in maritime transport and logistics, with a view to the sale of all of their shares representing 42% of the share capital of Clasquin SA, says an article published on business wire website.
Share Sale Agreement In Progress
Clasquin SA’s controlling shareholders, Mr. Yves REVOL and OLYMP, are in exclusive negotiations with SAS Shipping Agencies Services Sàrl (“SAS”), a subsidiary of MSC Mediterranean Shipping Company SA. The objective is the potential sale of all shares constituting 42% of Clasquin SA’s share capital.
Exclusive Period Granted
The exclusivity period was granted following a non-binding offer from SAS, allowing for a thorough audit of Clasquin SA and its Group companies. Should the audit yield positive results, SAS would extend a put option to Mr. Yves REVOL and OLYMP in the first quarter of 2024.
Purchase Price Determination
The purchase price for the shares would be established based on a €325 million enterprise value, with adjustments agreed upon by both parties. The final acquisition documentation will be completed post-information and consultation procedures with relevant employee representative bodies.
Transaction Completion Requirements
The transaction’s completion hinges on obtaining clearances from regulatory authorities, including competition clearances. Following the acquisition of the controlling shares from Mr. Yves REVOL and OLYMP, SAS plans to initiate a public tender offer with the Autorité des Marchés Financiers (AMF) for the remaining shares in Clasquin SA.
Continuity Of Operations
In the event of the acquisition, the Clasquin Group will continue its operations with existing teams and under its established brands, including Clasquin, Timar, LCI-Clasquin Cargolution, CVL, and Exaciel.
Upcoming Events And Market Updates
Clasquin SA commits to informing the market about the ongoing negotiations and any developments arising from the acquisition talks. Additionally, the company has outlined a series of upcoming events, including Q4 2023 activity, 2023 annual results, and subsequent quarterly and annual updates throughout 2024.
These announcements underscore a potential significant development in Clasquin SA’s ownership structure, with ongoing discussions and assessments shaping the future direction of the company.
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Source: Business wire
