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Elior Group acknowledges the acquisition agreement signed by Derichebourg Group to acquire 14.7% of Elior's share capital and voting rights by June 30, 2022. Post-acquisition, Derichebourg will hold a total of 19.6% of Elior's shares. Derichebourg's long-term commitment includes support for Elior's strategy and the intention to secure two board seats. Elior Group, a leader in contract catering with €3.690 billion revenue in 2020-2021, operates over 22,700 restaurants globally, serving 3.6 million customers daily.
Positive
Derichebourg Group's acquisition could strengthen Elior's strategic direction with new board members.
Long-term commitment from Derichebourg may enhance shareholder confidence.
Negative
Derichebourg's increased control may lead to potential dilution of existing shareholders' influence.
The necessity for board seat negotiations could create short-term uncertainty.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Elior Group (Paris:ELIOR) acknowledges the press release in which Derichebourg Group announce the signing of an agreement to acquire 14.7% of the share capital and voting rights of Elior Group from BIM and Mr. Gilles Cojan, by June 30, 2022 at the latest. Following this acquisition, Derichebourg Group will hold 19.6% of the share capital and voting rights of Elior Group.
Elior Group acknowledges that Derichebourg Group’s vision for Elior Group’s future is based on a long-term shareholder commitment and on support towards the strategy set by Elior Group’s board of directors, and that Derichebourg Group does not intend to launch a tender offer on the remaining share capital of Elior.
Derichebourg Group has also indicated that it intends to apply for two directors seats on Elior Group’s board of directors. Elior Group will examine with Derichebourg Group the terms and conditions of their long-term shareholder relationship.
About Elior Group
Founded in 1991, Elior Group has grown into one of the world's leading operators in contract catering and support services and has become a benchmark player in the business & industry, education, health & welfare and leisure markets. With strong positions in 5 key countries, the Group generated €3.690 billion in revenue in fiscal 2020-2021.
Our 99,000 employees feed over 3.6 million people on a daily basis in 22,700 restaurants on three continents and offer services at 2,400 sites in France.
Innovation and social responsibility are at the core of our business model. Elior Group has been a member of the United Nations Global Compact since 2004, reaching the GC Advanced Level in 2015.
For further information please visit our website http://www.eliorgroup.com or follow us on Twitter at: @Elior_Group
Pursuant to the commission implementing regulation (EU) 2016/1055 of 29 June 2016 laying down implementing technical standards with regard to the technical means for appropriate public disclosure of inside information and for delaying the public disclosure of inside information in accordance with Regulation (EU) No 596/2014 of the European Parliament and of the Council, this press release may contain inside information and has been sent to the authorized broadcaster of Elior Group.
