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Altice aims for SFR squeeze-out

August 10, 2017

Multinational cable, fibre, telecommunications, content and media company Altice has entered into several agreements relating to the acquisition of its telco subsidiary SFR Group shares through exchanges against Altice N.V. common shares A.

These agreements ensure the holding by the Altice group of 95.9 per cent of the share capital and voting rights of SFR Group.

As a result, the Altice group announces its intention to file with the French financial market authority (AMF), in September 2017, a buyout offer followed by a squeeze-out for the remaining SFR Group shares for a price of €34.50 per share.

Pursuant to applicable French regulation, the Board of directors of SFR Group 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. In this context, the Board of directors of SFR Group has appointed Finexsi as an independent expert mandated to issue a report regarding the fairness of the financial conditions of the contemplated offer. In addition, the Board of directors of SFR Group has appointed Perella Weinberg Partners to act as financial advisor to the company.

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