Parent group intends to own all Lafuma shares
Parent group Calida has published an offer to independent shareholders of its Lafuma brand, saying it intends to acquire all of the shares.
Calida already holds 93.5% of Lafuma share capital and voting rights. It said in September that it wanted to acquire the remaining shares and on November 12 it said it had received approval from France’s financial market regulator and made a public tender offer for them.
It has offered €17.99 per share, which it says is 5.7% above the average price over the last 60 calendar days. However, it has warned that it will cancel any shares that private shareholders refuse to sell in an operation called a squeeze-out.
It said: “Irrespective of the outcome of the public tender offer, Calida plans to carry out a squeeze-out procedure for all Lafuma shares not tendered in the public tender offer. For public shareholders of Lafuma who do not tender their shares in the public tender offer, this means that the shares held by them will be cancelled and they will receive compensation in the amount of the offer price in accordance with the public tender offer.”
It has set aside €8.2 million for the transaction.
Based in Switzerland, Calida is the parent group of Millet as well as of Lafuma. It also owns two lingerie brands, Aubade and Calida.
