Réalista, Inoprom, Inovalis AM and Inovalis PM signed an agreement to acquire Avenir Finance (ENXTPA:AVF) in a reverse merger transaction on April 24, 2014. Avenir Finance will issue more than 5 million shares to Inovalis, parent of Réalista, Inoprom, Inovalis AM and Inovalis PM, representing 66.66% stake in Avenir Finance, leading to change in control.

In this capacity, Inovalis would have the possibility to propose for the appointment of the majority of the members of the Board of Directors of Avenir Finance, currently chaired by its founder Danyel Blain will leave his position as Chief Executive Officer to Stéphane Amine, Chief Executive Officer of Inovalis, would become Chief Executive Officer of Avenir Finance. The transaction is subject to approval of regulatory authorities and is expected to be completed on June 10, 2014.

Réalista, Inoprom, Inovalis AM and Inovalis PM completed the acquisition of Avenir Finance (ENXTPA:AVF) in a reverse merger transaction on July 18, 2014. The transaction was approved at the General Assembly of the shareholders of Avenir Finance on July 18, 2014. Following the transaction, Stéphane Amine succeeds Danyel Blain as the Chief Executive Officer of Avenir Finance. Fadi Caledit and Jérôme Frank will become Deputy Managing Directors in the combined company. The General Assembly also validated the nomination of six new administrators: Stéphane Amine, David Giraud, Joëlle Chauvin, Jean-Daniel Cohen, François Simon, and Marie-Laure Tuffal-Quidet. Grégory Blain, Frédéric Bouté, Gilbert Habermann and Alain Régnault will remain members of the Board of Directors of Avenir Finance. Danyel Blain and Joëlle Blain will resign from their positions as administrators.