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Sopra Steria has acquired a majority stake in CS Group, enhancing its position as a leading provider of critical systems and digital services in the defence, security, space, and energy sectors. The acquisition agreement, completed on November 18, 2022, involved buying approximately 29.73% of CS Group’s shares at €11.50 per share. Following this purchase, Sopra Steria now holds 75.06% of CS Group's share capital and 76.21% of voting rights. CS Group will be consolidated in Sopra Steria's accounts starting on March 1, 2023. A simplified mandatory public buyout for the remaining shares will be filed soon, potentially leading to delisting from Euronext Paris.
Positive
Sopra Steria acquired 75.06% of CS Group, strengthening its market position.
The acquisition enhances Sopra Steria's capabilities in critical systems and digital services.
Consolidation of CS Group is expected to contribute positively to Sopra Steria's revenue.
Negative
Integration challenges may arise from the acquisition of CS Group.
Creation of a leading provider of critical systems and digital services for the defence & security, space and energy sectors
PARIS--(BUSINESS WIRE)--
Regulatory News:
Sopra Steria (Euronext Paris: SOP) (Paris:SOP), a European tech leader recognised for its consulting, digital services and software development, and CS Group (Euronext Paris: SX), a major player in the design, integration and operation of critical systems, announced today that Sopra Steria has acquired a majority stake in CS Group.
This acquisition was completed via an acquisition agreement signed on 18 November 2022 (see the press release published on 21/11/22) with a view to acquiring the CS Group shares held by the company’s Chairman of the Board of Directors Yazid Sabeg, Chief Executive Officer Eric Blanc-Garin, and their joint holding company Duna & Cie, comprising around 29.73% of CS Group’s share capital (the “main block”), at the price of €11.50 per share. It also followed the fulfilment of the commitments made to Sopra Steria by Cira Holding and the founders of Novidy’s on 27 July 2022 (see press release published on 28/7/22) to sell stakes comprising approximately 29.15% and 6.38%, respectively, of the company’s share capital at the same per-share price as for the main block.
Following this acquisition, and taking into account the 9.80% of the share capital and 13.90 % of the voting rights already owned by the Group, Sopra Steria now owns 75.06% of the share capital and 76.21 % of the voting rights in CS Group1.
CS Group will be consolidated in Sopra Steria’s accounts from 1 March 2023.
In accordance with AMF’s General Regulation, Sopra Steria will soon file a draft simplified mandatory public buyout offer (OPA simplifiée) for the rest of the share capital at the same unit price of €11.50 per ordinary share.
If, at the end of the offer period, the threshold enabling the completion of a mandatory delisting is reached, Sopra Steria will request the implementation of a mandatory delisting procedure for CS Group securities from the Euronext Paris exchange.
About CS Group
CS Group is a major player in the design, integration and operation of critical systems. CS Group is listed on the Euronext Paris exchange – Compartment C (Shares: Euroclear 7896 / ISIN: FR0007317813).
Sopra Steria, a European tech leader renowned for its consulting, digital services and software development, helps its clients drive their digital transformation and obtain tangible and sustainable benefits. It provides end-to-end solutions to make large companies and organisations more competitive by combining in-depth knowledge of a wide range of business sectors and innovative technologies with a fully collaborative approach. Sopra Steria places people at the heart of everything it does and is committed to putting digital to work for its clients in order to build a positive future for all. With 50,000 employees in nearly 30 countries, the Group generated revenue of €5.1 billion in 2022.
The world is how we shape it.
Sopra Steria (SOP) is listed on Euronext Paris (Compartment A) – ISIN: FR0000050809
1 On the basis of a share capital composed of 24,568,466 shares representing 27,358,601 theoretical voting rights at February 3 2023, restated to reflect the loss of double voting rights attached to certain shares transferred as part of the acquisition.
