Tikehau Group Takes Over Salvepar

The Tikehau Group and Société Générale have signed a definitive agreement for the takeover of Salvepar. Salvepar is a French investment company listed on NYSE Euronext Paris whose strategy is to take minority stakes – between 5 percent and 20 percent – in listed and unlisted companies, focusing on emerging companies.

PRESS RELEASE

The Tikehau Group and Société Générale today announced the signing of a definitive agreement for the takeover of Salvepar, a French investment company listed on NYSE Euronext Paris by Tikehau Participations & Investissements, a new investment company created by Tikehau Group whose objective is to invest in the capital of listed and non-listed companies.
Salvepar is an investment company whose strategy is to take minority stakes – between 5% and 20% – in listed and unlisted companies, focusing on emerging companies.
Under the agreement signed on October 22nd, Tikehau Participations & Investissements is to acquire, at a price of €86.24 per share, 51.42% of the capital and voting rights of Salvepar held by the group Société Générale.
The closing of the transaction is expected in the coming days.
Following the acquisition of the control block, Tikehau Participations & Investissements will file a simplified takeover bid on the remaining shares of Salvepar at the same price per share, in accordance with the applicable regulations. The public offer shall be subject to the approval of the Autorité des marchés financiers. Tikehau Participations & Investissements will not request a squeeze- out following the public offer.
With this acquisition, the Tikehau Group affirms its commitment to expand its capital development and equity investment activities through Tikehau Participations & Investissements in parallel with its third party asset management activity in the credit markets, developed since 2007 through Tikehau Investment Management.
Antoine Flamarion, Chairman of Tikehau Group said: “The acquisition of Salvepar is an important step in the development of the Group. We are strengthening our presence in the field of capital investment now with a portfolio of more than € 1.4 billion of assets. Salvepar is invested in solid companies that we will further support for Salvepar to be a performing investment company and a leader in its market.”
The disposal of Societe Generale’s stake in Salvepar is part of the group’s effort to accelerate its transformation by refocusing its activities, notably by divesting from non-strategic assets. The impact of this transaction is not significant on the Group’s prudential ratios and results. Société Générale indicates that the acquisition by Tikehau of its stake, following a competitive process, allows the company to continue its development in the capital market development and capital investment in France. Given its leading position in retail banking among corporate clients in France, Societe Generale will maintain its relationship with Tikehau and Salvepar in order to support its customer needs.
About the Tikehau Group
The Tikehau Group was established in 2004 to invest and manage, without any particular time constraints, institutional and private funds in different asset classes (listed and non-listed equity, credit and real estate). In 2007, the Tikehau Group launched Tikehau IM, an investment management company regulated by the AMF specialising in credit and which has become in recent years a leader
in its market. The Tikehau Group is majority owned by its management, alongside leading institutional partners such as Crédit Mutuel Arkea and Unicredit. For more information: www.tikehaucapital.com.
About Société Générale
Société Générale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams. Around 160,000 employees, based in 77 countries, accompany more than 33 million clients throughout the world on a daily basis. Société Générale’ teams offer advice and services to individual, corporate and institutional customers in three core businesses:
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Retail banking in France with the Société Générale branch network, Credit du Nord and Boursorama International retail banking, with a presence in Central and Eastern Europe, Russia, in the Mediterranean basin, in Sub-Saharan Africa, in Asia and in the French Overseas Territories Corporate and investment banking with a global expertise in investment banking, financing and global markets.
Société Générale is also a significant player in specialised financing and insurance, private banking, asset management and securities services. Société Générale is included in the socially-responsible investment indices FTSE4Good and ASPI. For more information, you can follow us on twitter @societegenerale or visit our website www.societegenerale.com.
About Salvepar
Salvepar is an investment company listed on Euronext Paris Compartment C, majority owned by Société Générale. Salvepar has a policy of diversified investments in medium and long term.
Press contacts
Tikehau Group
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Leslie Jung Ph : + 44 207 607 94 19 ljung@image7.uk.com
Société Générale
Ph : +33 1 42 14 67 02