Vantiva: Status update on CommScope’s Home networks acquisition
10 Novembre 2023 - 8:30AM
Vantiva: Status update on CommScope’s Home networks acquisition
Press Release
Status update on CommScope’s Home
Networks acquisition
Paris – November
10th, 2023 - Vantiva
(Euronext Paris: VANTI),
On October 3, 2023, Vantiva announced that it
had reached an agreement with CommScope to acquire its Home
Networks business, in exchange for a 25% stake in Vantiva.
CommScope will reinvest the entire acquisition price in a reserved
capital increase giving it the right to a 25% stake in Vantiva
(post-capital increase)1. To this end, the company has today
published the draft resolutions in the BALO.
Vantiva points out that, from the parties' point
of view, the value of the transaction lies primarily in the
realization of future synergies made possible by the combination of
the Home Networks business with Vantiva. The integration of the
acquired businesses should lead to additional financing
requirements before the benefits of the synergies. As a result, the
company plans to meet these new needs notably by extending its
existing credit lines to the combined perimeter, and by optimizing
the acquired working capital. The company is therefore confident in
its ability to meet the liquidity needs resulting from the
transaction over the next twelve months.
For the purposes of the transaction, Vantiva and
CommScope have assumed a value of 88 million euros for the assets
acquired, based mainly on discounted cash flows. This valuation and
the exchange ratio will be the subject of a fairness opinion by
RSM, acting as an independent expert. This will be made available
on the Vantiva website prior to the Annual General Meeting. The
valuation of the acquired assets adopted for the purposes of the
transaction results in a unit issue price for Vantiva shares of
sixty-five euro cents (€0.65) (including share premium). This
valuation should not be used to draw conclusions concerning the
evolution of Vantiva’s share price.
###
Warning: Forward Looking Statements
This press release contains certain statements that constitute
"forward-looking statements", including but not limited to
statements that are predictions of or indicate future events,
trends, plans or objectives, based on certain assumptions or which
do not directly relate to historical or current facts. Such
forward-looking statements are based on management's current
expectations and beliefs and are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from the future results expressed, forecasted, or implied by such
forward-looking statements. For a more complete list and
description of such risks and uncertainties, refer to Vantiva’s
filings with the French Autorité des marchés financiers. 2021
Universal Registration Document (Document d’enregistrement
universel) has been filed with the French Autorité des marchés
financiers (AMF) on April 26, 2023, under number D-23-0337.
###
About Vantiva
Pushing the Edge
Vantiva shares are admitted to trading on the
regulated market of Euronext Paris (VANTI).
Vantiva, formerly known as Technicolor, is
headquartered in Paris, France. It is an independent company which
is a global technology leader in designing, developing and
supplying innovative products and solutions that connect consumers
around the world to the content and services they love – whether at
home, at work or in other smart spaces. Vantiva has also earned a
solid reputation for optimizing supply chain performance by
leveraging its decades-long expertise in high-precision
manufacturing, logistics, fulfillment and distribution. With
operations throughout the Americas, Asia Pacific and EMEA, Vantiva
is recognized as a strategic partner by leading firms across
various vertical industries, including network service providers,
software companies and video game creators for over 25 years. The
group’s relationships with the film and entertainment industry goes
back over 100 years by providing end-to-end solutions for its
clients.
Vantiva is committed to the highest standards of
corporate social responsibility and sustainability across all
aspects of their operations.
For more information, please visit vantiva.com
and follow Vantiva on LinkedIn and Twitter.
Contacts
Vantiva Investor
Relations Image
7 for Vantiva –
Corporateinvestor.relations@vantiva.com vantiva.press@image7.fr
1 CommScope' s subscription to the reserved capital increase
will be by way of debt set-off.
- 2023-11-10 Status update acquisition CommScope-EN
Grafico Azioni Vantiva (LSE:0MV8)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Vantiva (LSE:0MV8)
Storico
Da Mag 2023 a Mag 2024