November 14th, 2019
We are pleased to announce that on November 14th, 2019, Argos Wityu, (“Argos”), an independent European investment fund, has entered into exclusive negotiations to acquire E.J. Barbier (the “Holding”), the controlling holding company of EPC Groupe (the “Company”), a world leading manufacturer and distributor of explosives for civil use, listed on Euronext.
The Transaction, which is expected to close in Q2 2020, remains subject to the information and consultation of the Company’s employees’ representative bodies as well as the obtention of the required regulatory approvals in France and abroad.
Following signing of the Transaction, Argos is expected to launch a simplified public tender offer for the shares and founder’s shares constituting the remaining share capital of the Company, at a price consistent with the purchase price of the Transaction. In this context, and subject to independent experts’ valuation, offer price is expected to stand at €429 per share for the Company’s share and at €480 for the Company’s founder’s shares.
The Transaction as well as the simplified public tender offer are expected to be exclusively financed through equity injection from Argos, the management team of the Company, as well as from some shareholders of the Holding willing to reinvest in the Company.
The Company has requested from Euronext to suspend the trading of its shares and its founder’s shares. Trading will resume on Monday 18th, November 2019.
In the context of the Transaction, Sycomore Corporate Finance acted as financial advisor to EPC Groupe and its management. The Transaction team comprised François Vigne, Pierre-Arnaud de Lacharrière and Jihane Kabouya.