Telekurs Holding SA and Fininfo SA today signed an agreement whereby Telekurs undertakes to acquire Fininfo “financial information” activities.
This agreement involves all companies from Fininfo “financial information” department, except Idé, company specialized in graphic design and Anthium, a bond-trading company that recently ceased activities.
This agreement will enable Telekurs to enlarge its products and services portfolio and will strengthen its position in several countries, especially in France and Scandinavia. The two companies will usefully leverage complementarities, as well for geographic coverage as for offered solutions and services.
Fininfo will consolidate its financial information activities by backing-up to one of the leading European actors, at a time when market consolidation is accelerating and company size is becoming a determining factor to guarantee essential strategic investments.
Financière Jeulin, a holding company 81% owned by the Jeulin family and 19% by Amber Fund, will initiate a public take-over bid on Fininfo, thus allowing minority shareholders to bring their shares for sale.
At the end of the acquisition, Financière Jeulin will retain the activities related to “knowledge management” of Fininfo group, hosted today within Altares, as well as Fininfo equities within Idé and Anthium.
The take-over offer was presented to Autorité des Marchés Financiers (A.M.F.) on July 10th and will start as soon as the official approval has been made public.
The proposed share price is Euros 16.6 per share after a dividend distribution of Euro 0.4 per share for 2006 fiscal year, i.e. a 25% bonus compared to Fininfo average share rate over the last six months.
According to Marc Carletti, Chief Executive Officer, Telekurs Financial : “This acquisition allows Telekurs to strengthen our strategy by becoming a leading financial information provider in Europe. For our customers, this initiative brings many advantages, especially our strengthened capacity to accompany them more widely on local or international markets and to offer them products and services that match their needs in a more effective way.”
As Gérard Jeulin, Fininfo Chief Executive Officer, states: “I am pleased that we found an agreement with Telekurs, a company with which we have developed long-term relationships. This merger is part of an appealing industrial project and I am confident that Fininfo customers can find in this new entity a wider products and services offer matching their needs”.