The European commission today approved, in light of EU regulations on mergers, the acquisition of sole control of Clasquin S.A. (Paris:ALCLA) by SAS Shipping Agencies Services Sàrl (“SAS”), a subsidiary of MSC Mediterranean Shipping Company SA.
As a reminder, regulatory clearances as part of merger controls in other relevant jurisdictions have already been obtained, as has the clearance relating to foreign investment control in France1.
Under the terms of the share sale agreement, the sale by Mr. Yves REVOL and OLYMP2 of 42.06% of the share capital of Clasquin, at a price of EUR 142.03 per share, to SAS is due to take place on 9 October 2024.
As a reminder, upon completion of the sale, SAS will file a draft tender offer with the Autorité des Marchés Financiers (AMF) for the remaining shares in Clasquin’s capital, at the same price of EUR 142.03 per share (the “Offer”). This draft Offer will be submitted to the AMF for approval. If the regulatory conditions are met upon closure of the Offer, SAS intends to implement a squeeze-out procedure on the outstanding Clasquin shares on the same financial terms as the Offer, with a view to delisting the Company.
SAS is due to submit its draft Offer to the AMF by 15 October 2024 at the earliest.
Source: CLASQUIN
