Econocom Group has been informed that Econocom International BV has reached an agreement pursuant to which it undertakes to acquire a stake of 5,4% (i.e. 13 278 091 shares) held by two companies controlled by Walter Butler in the share capital of Econocom Group SE. The purchase price amounts to 3 euros per Econocom Group SE share.
The acquisition is only conditional upon Econocom International BV obtaining bank financing up to the amount of the purchase price. The parties anticipate the final completion of the transaction within approximately 5 weeks.
Econocom International BV is a company controlled by Jean-Louis Bouchard, chairman and founder of the Econocom group. Upon completion of the transaction, Jean-Louis Bouchard will strengthen his position as the reference shareholder of Econocom Group, with a stake (through the companies he controls) of more than 41,8% (after the acquisition, without taking into account the treasury shares held by Econocom Group).
Walter Butler (through companies controlled by him) acquired a stake in Econocom Group SE in 2013, when the Econocom Group acquired Osiatis.
“Walter Butler's support has been decisive for the development of Econocom and has enabled it to become over the years a leading digital services company in Europe. I would like to personally thank them for their active participation in the success of our group throughout these fruitful years of cooperation, "said Jean-Louis Bouchard, President and CEO of Econocom Group.