15 11 10 - Onet Sortie partielle - uk
Paris, November 10th 2015
Partial exit of Onet
In 2007, FFP and the Reinier family joined forces to give Onet SA a new momentum. FFP invested €72 million in Holding Reinier, enabling the Reinier family to strengthen its control over Onet SA, which was delisted.
Following on from the 2007 agreements between FFP and the Reinier family, FFP will take part of a capital reduction for around half of its 22.4% stake in Holding Reinier - which owns almost 100% of Onet SA -. Under this transaction, FFP should receive €45 million and have its stake in Holding Reinier reduced to 12.6%. The shareholder pact signed in 2007, which mainly concerns governance and liquidity arrangements, has been extended until 2022. FFP will retain a seat on the Board of Directors.
Commenting on the transaction, Robert Peugeot said: 'Since 2007, Onet SA has strengthened its traditional business areas, reduced its debt and expanded abroad. During that time, FFP has played an active role in its supervisory bodies and helped put together a new management team, which is now implementing the company's new phase of development. By helping Elisabeth Coquet Reinier and her family to maintain and strengthen their control over one of France's leading providers of business services, FFP has fully played its role of long-term shareholder.'
FFP is an investment company listed on Euronext, majority-owned by Etablissements Peugeot Frères and managed by Robert Peugeot. FFP is one of the leading shareholders of Peugeot SA and pursues a minority shareholdings and long-term investment policy. FFP holds participations in listed companies (Zodiac Aerospace, DKSH, SEB or ORPEA), non-listed companies (Sanef or Onet), and private equity funds.
Sébastien Coquard: +33 1 84 13 87 20 sebastien.coquard@groupe-FFP.fr
Press contact :
Samuel Rousseau: +33 1 58 47 89 54 firstname.lastname@example.org