The Board of Directors of Les Editions P Amaury S.A. authorized a share repurchase program on April 2, 2013. Under the program, the company will repurchase up to 25% of its stake from Lagardère SCA (ENXTPA:MMB) for €91.4 million. The disposal will take place via the capital reduction carried out by the company. The deal is subject to approval from the Board and shareholders at the General Meeting and will be completed in the coming weeks. Franck Portais and Oriane ... Durvye from goetzpartners Corporate Finance SAS acted as the financial advisors to Les Editions. Olivier Assant, Elsa Fraysse, Jing Wei, Pierre-Henri Durand and Franck Morhain from Bredin Prat & Associes acted as the legal advisors for Lagardère SCA. Hélène Combe-Guillemet, Bertrand Peyrelongue, Charles-Hubert de Chaudenay, Mathieu Gross, Aurélien Lasjunies, François Mollier, Laura Chavigny de Lachevrotière of Credit Agricole Corporate and Investment Bank acted as financial advisor to Lagardere SCA.
Read More

The shareholders of European Aeronautic Defence and Space Company EADS N.V. (ENXTPA:EAD) authorized a share repurchase program at its Extraordinary General Meeting on March 27, 2013. Under the plan, the company will repurchase 15% of its outstanding shares, excluding shares held by the company. The company will acquire at a price not less than the nominal value and at most €50 per share. The company will purchase shares by any means, including derivative products, on ... any stock exchange, in a private purchase, by way of a public purchase offer. Shares purchased will be cancelled. The share buyback program, if implemented in the first half of 2013, would be divided into two equal tranches with the same terms and conditions. The first tranche of the share buyback program would be up to 7.5% of the outstanding shares in company’s issued share capital and would be open to all of the company’s shareholders other than the current consortium members. The second tranche of the share buyback program would also be up to 7.5% of the outstanding shares in the company’s issued share capital, and up to 5.5% of the outstanding shares in the company’s issued share capital would be reserved exclusively for Lagardere. If the size of the second tranche is larger than 5.5% of the outstanding shares in the company’s issued share capital, Sogepa and SEPI will have the right to tender a number of shares corresponding to the difference between the size of the tranche and 5.5% (based on their pro rata ownership of shares in the Company’s capital unless they agree otherwise), thus allowing Sogepa and SEPI, together, to sell shares representing up to 2% of the outstanding shares in the company’s issued share capital in the second tranche. In the event that Sogepa and SEPI do not exercise this right in part or in full, Lagardère could take the portion of the tranche that they do not use, which would potentially allow Lagardère to sell shares representing up to 7.5% of the outstanding shares in the company’s issued share capital in the second tranche. Finally, in the event that the second tranche is not fully tendered by Lagardère, Sogepa and SEPI, Daimler will have the right to participate up to the full unused amount of the second tranche. If the share buyback program does not take place in the first half of 2013 or takes place and involves the repurchase of less than 15% of the issued and outstanding share capital of the company, then the company could pursue the unused portion of the authorization in connection with the share buyback program at any time up to 18 months following this Extraordinary General Meeting for other share repurchases. The Board will only decide whether or not to proceed with such a share buyback and determine its timetable, amount, method and pricing based on the prevailing market conditions at the time of such future determination and, in any case, subject to having received prior approval of this Extraordinary General Meeting. The plan is valid for 18 months. On April 2, 2013, the company commenced the share repurchased program. On April 3, 2013, the company approved to repurchase up to €3.75 billion. On April 9, 2013, the company announced that it repurchased €500 million worth of its shares from Lagardère. On April 17, 2013, the company entered into an agreement for the independent management of the repurchase program with a broker under the “safe harbour” regulations of the French Autorité des marchés financiers (AMF). Under this mandate, the company has instructed the broker to purchase on company’s behalf own shares not exceeding 43,000,000 from April 17, 2013 to July 31, 2013. On April 17, 2013, the company announced it repurchased €3.7 billion worth of its shares from the French government. The repurchase represents a 1.56% stake in the company. The French government still owns about 13% of the company. On April 17, 2013, the company announced it repurchased 61,100,000 shares at a price of €37 per share for €2.26 billion from Daimler. The repurchase represents a 7.5% stake in the company. Daimler no longer owns any share in EADS. On April 30, 2013, the company announced it repurchased 13,000,000 shares for €483 million. The repurchase represents a 2.1% stake in the company. Jennie Pettersson of Deutsche Bank Securities Inc. and Compagnie Financière Lazard Frères SAS acted as financial advisors to European Aeronautic Defence and Space Company EADS N.V. Philippe Herbelin, Thomas Le Vert, Kevin Paviet-Salomon, Antonin Deslandes, Colin Chang, Anne-Marie Salan, Greg Stonefield, Stuart Willey, and Dave Gossen White & Case LLP acted as the legal advisors to the banking syndicate advising on the sale of Lagardère’s stake in EADS. Bredin Prat & Associes acted as the legal advisor for Lagardere SCA.
Read More

Sponsored Financial Commentaries

To contact LAGARDERE S.C.A., please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.