Groupe Open (ISIN: FR 0004050300; segment NextEconomy – 972, computer services), a digital services company, is announcing the signing of an exclusive negotiating agreement between the founders and reference shareholders of Groupe Open (Frédéric Sebag, Laurent Sadoun, Guy Mamou-Mani and Valérie Benvenuto) and Montefiore Investment, with a view to concluding an investment protocol, under which the signatories, including the members of the family groups of certain founders, will declare to act in concert with regard to Groupe Open. They will make a mandatory public offer for Groupe Open’s shares through New Go, a company set up for the purposes of the operation.
The offer will be made at the price of €15 per Groupe Open share, representing a 57% bonus in comparison with the average volume-weighted stock market prices in the last 60 days of trading, and a 40% bonus in comparison with the last closing price before the announcement of the offer.
- The offer of €15 per share represents a 57% bonus compared with the average volume-weighted stock market prices in the last 60 days of trading
- The Groupe Open’s board of directors has voted in favour of the principle of the offer
- An exclusive negotiating agreement has been signed with Montefiore Investment to act as the financial partner
The operation aims to speed up the transformation of Groupe Open and to return the group to a growth dynamic by providing it with the means to fund the investments that are necessary for this transformation. In particular, these financial resources should enable Groupe Open to make short-term dilutive acquisitions, with a view to creating value in the next 4 to 5 years.
“Our company has successfully established itself on the digital services market. It now needs to make significant investments in leading-edge technologies and in business expertise of our customers in order to restore an unprecedented level of growth,” declared Guy Mamou-Mani, Founder and Co-President of Groupe Open.
“We must adapt our value proposition in this direction and develop our business model to take account of the durable post-COVID changes, especially in terms of working practices, appeal and customer loyalty,” added Frédéric Sebag, Founder and Co-President of Groupe Open.
“We are delighted to support an experienced management team in their ambitious project to transform Groupe Open, in line with our investment strategy,” declared Daniel Elalouf, Managing Director of Montefiore Investment.