Altice to file a buyout offer for SFR Group in September

15 Aug 2017

Amsterdam-listed Altice Group (Altice NV, headed by French entrepreneur Patrick Drahi) has announced its intention to file a buyout offer followed by a squeeze-out for the remaining SFR Group shares for a price of USD34.50 per share in September 2017, after inking several agreements which ensure that it holds 95.9% of the share capital and voting rights of the French group (via exchanges against Altice NV Class A common shares). Pursuant to the applicable French regulation, SFR Group’s board of directors will issue a reasoned opinion on the contemplated offer, on the basis of the report of an independent expert evaluating the financial conditions of such offer, with Finexsi appointed to undertake the task.

TeleGeography notes that Altice Group owned 84% of SFR Group previously, with 0.14% of the shares held by other members of the board. The remainder of the group capital was floated on the Paris Stock Exchange (Euronext).

France, Altice Europe (formerly Altice Group), Altice France (SFR)