Tessi: acquisition by Pixel Holding planned for January
The acquisition was subject to approval from the French Competition Authority, which was obtained on August 10, 2016. It was also subject to a non-opposition decision by the European Central Bank on the proposal of the Autorité de Contrôle Prudentiel et de Résolution, in respect of the indirect change of control of the credit institution CPoR Devises, a subsidiary of Tessi SA. The non-opposition decision was obtained on December 9, 2016.
The acquisition of the Rebouah family's majority stake will be completed during the first half of January 2017. It will lead to the filing of a public tender offer for the remaining shares of Tessi SA at the same price of €132.25 per share.
Pixel Holding intends to propose to Tessi SA shareholders the possibility of either receiving the totality of this price as the sale price of their shares, or of receiving a part, equal to €24.20, as an exceptional dividend, and of receiving the balance, equal to €108.05, as the sale price of their shares after payment of this dividend.
All detailed information on the public offer will be given in the offeror's prospectus to be issued at the time of filing of the offer.
Chaired for 35 years by Marc Rebouah, Tessi is the leader in flow processing in the document processing and means of payment activities and supports companies in the management of their vital elements (documents, means of payment, currency & gold transactions and promotional marketing). Its revenue amounted to €290 million in 2015.
Its headquarters are located in Grenoble and its shares are listed on compartment B of Euronext Paris - ISIN code - FR0004529147 - Mnemonic: TES
Tessi is :
French leader in data acquisition, data processing and check processing
French leader in currency and gold transactions
No. 1 in France in the management of deferred promotional operations
Tessi employs 7,000 people and generates 1/3 of its revenues internationally
HLDI, a simplified joint stock company, is an industrial holding company controlled by the Dentressangle family. It is chaired by Dentressangle Initiatives, represented by Norbert Dentressangle, its Chairman. HLDI has the vocation to invest in control, with HLD Europe..
About HLD Europe
HLD Europe is an entrepreneurial holding company. Its founders are Jean-Philippe Hecketsweiler, Jean-Bernard Lafonta and Philippe Donnet. HLD Europe's shareholders include leading entrepreneurs such as Claude Bébéar (founder of the insurance company AXA), Norbert Dentressangle (founder of the logistics group of the same name) and Jean-Charles Decaux (Chairman and representative of the founding family of the street furniture group JC Decaux). Today, HLD Europe owns Filorga, Sarenza, Coyote, Elivie, as well as stakes in SVR, Tranoï, Gekko, Alchimie and Funbridge..
HLD Europe's mission is to invest in European companies on a long-term basis in order to accompany them in their international development and to strengthen their leadership. HLD Europe is interested in companies with an entrepreneurial approach offering organic or external growth potential, improving operational performance and international development..
Press contact HLD
Michel Calzaroni / LD : +33 1 40 70 94 26 / +33 6 07 34 20 14 / [firstname.lastname@example.org](mailto:email@example.com)
Olivier Labesse / LD : +33 1 40 70 94 27 / +33 6 16 26 33 58 / [firstname.lastname@example.org](mailto:email@example.com)