Technip acquires control of CybernétixCompany News // November 16, 2011
Technip has entered into an agreement with Gilles Michel, his holding company Askoad Conseil, Comex SA and Sercel Holding, for the acquisition of all of their interests in Cybernétix SA (which represents approximately 45.7 per cent of Cybernétix’s share capital), at an aggregate purchase price of approximately 14.1 million euros. The purchase price is 19 euros per share for each of the four blocks.
In accordance with the General Regulations of the French Autorité des marchés financiers (AMF), following the settlement of the purchase of the blocks of shares, Technip will file with the AMF a cash tender offer to purchase the remaining shares of Cybernetix at the same price of 19 euros per share.
Cybernétix’s board of directors has co-opted two representatives of Technip as directors and appointed the firm Détroyat as independent expert in connection with the cash tender offer.
Thierry Pilenko, Chairman and CEO of Technip, said: "Technological differentiation is a key feature of Technip’s growth strategy. This is the context in which Technip is making the current acquisition, which will enable the group to benefit from the unique know-how and technological expertise of Cybernétix, particularly in the design, manufacture and deployment of robotic systems in hostile environments."