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Stock Market & Financial Investment News

News Breaks
March 18, 2014
06:17 EDTSCGLYSociete Generale to increase holding in share capital of Boursorama
Societe Generale announces its intention to file a takeover offer targeting the shares of Boursorama, following the signature of a concerting shareholders agreement with Caixa Group. Societe Generale and Caixa Group, as of today holders of 56% and 21% of the share capital of Boursorama respectively, have strengthened their cooperation and formalized their common strategic vision of online banking in France and in Europe through the signature on March 17 of a concerting shareholders agreement with respect to Boursorama. Following the signature of this new shareholders agreement, Societe Generale will file today with the French Financial markets authority a simplified takeover offer targeting the shares of Boursorama neither owned by Societe Generale nor Caixa Group, at an Offer price of EUR12 per share The Offer, which is expected to open during the month of May, will be followed by a squeeze out procedure, should minority shareholders, excluding Caixa Group, hold less than 5% of Boursorama’s share capital and voting rights following the tender offer.
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