Gide Loyrette Nouel, counsel to Econocom in its combination with Osiatis
19 Sep, 2013
Gide Loyrette Nouel advised Econocom, a European business-to-business digital service provider, on the acquisition of a majority stake in Osiatis’ share capital, a major player in infrastructure services and specialist in related applications.
This transaction represents the first step of the plan to bring the two groups together in order to give birth to a major new player in the digital service sector (8,300 employees, €2 billion revenue, including €650 million from services).
On 12 September 2013, Econocom acquired all the securities (shares and equity warrants ) held by BML, a company controlled by Walter Butler, as well as Robert Aydabirian, Jean-Maurice Fritsch, Bruno Grossi and Laurent Parquet, representing 51.90% of Osiatis’ share capital.
A project for a “mix & match” simplified public offer for all Osiatis shares not held by Econocom was filed on 13 September 2013 with the French financial markets authority (AMF).
Following the acquisition of this majority stake and the effective completion of the public offer, Jean-LouisBouchard, Chairman of Econocom group, will remain the majority shareholder of Econocom. Walter Butler, through BML, will become a key shareholder and will be appointed as a member of Econocom Group’s Board of Directors.
Legal counsel to Econocom: Gide Loyrette Nouel: Didier G. Martin (partner), Antoine Tézenas du Montcel and Fanny Esnée
NautaDutilh (Belgian aspects): Benoît Féron (partner), Nicolas de Crombrugghe (counsel) and Lorraine Vercauteren
Legal counsel to Osiatis and assignors: BDGS Associés: Antoine Bonnasse (partner) Mathilde Santerre and Jean-Christophe Devouge.
Loyens & Loeff (Belgian aspects): Grégoire Jakhian (partner).