OMT Invest, the vehicle led by Axa Private Equity which bought French group Outremer Telecom, has applied to the financial regulator AMF to launch a simplified takeover bid for the shares not already held, according to media reports.
Natixis and…
OMT Invest, the vehicle led by Axa Private Equity which bought French group Outremer Telecom, has applied to the financial regulator AMF to launch a simplified takeover bid for the shares not already held, according to media reports.
Natixis and Societe Generale have reportedly been appointed to lead the simplified takeover bid on behalf of OMT Invest. The price of the offer is E12 per share.
At the end of July, OMT Invest finalised the acquisition of a 52.26% stake in Outremer Telecom from Apax Partners and founder, chairman and CEO Jean-Michel Hegesippe for about E133m or E12 per share.
Under the transaction, Hegesippe has re-invested in the group alongside the OMT Invest management team as well as retaining his operational duties.
The sellers were advised by BNP Paribas.
Booz & Co carried out the strategic due diligence, PwC the financial due diligence and Linklaters the legal due diligence. The vendor due diligence was conducted by Deloitte.
Weil, Gotschal & Manges and Oloryn were management advisers.
Euronext-listed Outremer Telecom is an alternative operator providing fixed, mobile and internet services in the French overseas regions of Martinique, Guadeloupe, French Guiana, Reunion and Mayotte.
Outremer Telecom did not reply to request for comments before press time.
