Engie: will acquire majority stake in EPS
(CercleFinance.com) - After trading on Wednesday, Electro Power Systems (EPS) announced Engie's signature of a share purchase agreement with its main shareholders (360 Capital Partners, Ersel and Prima Industrie) to acquire a majority stake (slightly above 50%) of EPS' capital and voting rights.
To reach this threshold, the agreement also involves the participation of members of the group's board of directors and management team. A new long-term incentive plan, related to the company's development, has been implemented to secure and strengthen the management team's commitment until 2021.
The shares will be purchased at 9.5 euros each and this will be followed by the filing of a simplified takeover bid at the same price. Engie also intends to maintain the shares' listing after the offer.
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To reach this threshold, the agreement also involves the participation of members of the group's board of directors and management team. A new long-term incentive plan, related to the company's development, has been implemented to secure and strengthen the management team's commitment until 2021.
The shares will be purchased at 9.5 euros each and this will be followed by the filing of a simplified takeover bid at the same price. Engie also intends to maintain the shares' listing after the offer.
Copyright (c) 2018 CercleFinance.com. All rights reserved.