ICMI acquires 50% of Apax Partners stake in Cegid Group April 12, 2010 press releaseParis, 12 April 2010 – ICMI, a company controlled by Jean-Michel Aulas, and Apax Partners SA, acting on behalf of the Apax Funds and Altamir Amboise (« Apax »), today announce that ICMI will acquire 50% of Apax’s stake in Cegid Group, namely 498,466 securities representing 5.40% of the Company’s share capital. Apax has supported the Company’s growth since 2004, when Cegid merged with Ccmx, an Apax-majority owned company since 1999. At 31 March 2010, Apax owned 10.78% of Cegid’s share capital and 11.92% of its voting rights at shareholders’ meetings. Post the sale of half of its holding in Cegid Group, Apax will have a 5.38% ownership and 6% of the voting rights at shareholders’ meetings. The transaction will take place today based on share price of €21.15. ICMI thus reinforces its ownership in order to continue to support the development of Cegid Group. ICMI will increase its ownership in Cegid from 4.60% to 10% and its voting rights at shareholders’ meetings from 8.83% to 14.12%. As part of the transaction, ICMI will benefit from a pre-emption right for a period of up to 18 months from the date of the transaction on the remaining shares held by Apax provided that certain conditions regarding Cegid Group’s share price are fully met. About ICMI About Apax Partners For further information, please contact: |
- About Cegid
- Contacts
- Legal notice
- © 2008 Cegid all rights reserved