Orange announces its intention to file a buy-out offer followed by a squeeze-out on Business & Decision at a price of 7.93 euros per share

Share

Orange Business Services SA, a 100% subsidiary of Orange SA, which holds 93.62% of the share capital and 93.42% of the voting rights of Business & Decision, announces its intention to file with the French financial markets authority (AMF) a buy-out offer followed by a squeeze-out for the remaining shares of Business & Decision at a price of EUR 7.93 per share.

Taking into account Orange current holding in Business & Decision, a squeeze-out at the same price will be implemented after the buy-out offer. This project will be subject to the appraisal of an independent expert in accordance with applicable French regulation.

Business & Decision's board of directors will issue a reasoned opinion on the contemplated offer by Orange, on the basis of the report of the independent expert who will appraise the fairness of the financial conditions of the contemplated offer.

The buy-out offer followed by a mandatory squeeze-out will be subject to the AMF clearance and shall be filed by the end of February 2020.

Orange Business Services SA is advised by Portzamparc (BNP Paribas Group).