Argos Wityu to de-list EPC Groupe in take-private

EJ Barbier currently owns a controlling holding company owning 113,603 shares representing approximately 67.46% of the share capital. The public tender offer should occur at a price per share of €429, which means Argos will pay around €50m for the business.

Shareholders of EJ Barbier and some senior executives of EPC group are expected to hold a minority stake in the business.

The simplified public tender offer will be financed solely from Argos's equity and quasi-equity, without third party borrowing from outside sources, in order to support the group's growth. Argos does not intend to request a compulsory squeeze-out.

EPC asked Euronext for the suspension of trading of its shares and founder's shares. Trading will resume on Monday 18 November.

Company
With origins dating back to 1893, EPC is a French company that specialises in the manufacture, storage and distribution of explosives for civil use. The group diversified its activities in the 2000s, while still operating in the civil sector, and moved into the demolition and diesel additives markets. The group, which employs 2,200 people, generated revenues of €323m and posted an EBITDA of €18m in 2018.

People
Argos Wityu – Louis Godron (partner); Thomas Ribereau (director); François Becque, Fanny Pestel (associates).

Advisers
Equity – EY, Emmanuel Picard, Arnaud Daubigney, Paul-Alexis Bernardet, Pierre Laturaze (financial due diligence); The Boston Consulting Group, Jérôme Hervé, Pablo Claver, Seddik El Fihri (strategic due diligence); Ramboll Environ, Bertrand Latrobe (ESG due diligence); Linklaters, Fabrice de La Morandière, Nicolas Le Guillou, Marie-Sarah Dib, Edouard Chapellier, Alexandra Mourlon, Thomas Elkins, Sara Gil Garcia (legal).  
Vendor – Transaction R, Pierpaolo Carpinelli, Anthony Benichou, Guillaume Girardeau (corporate de diligence); Stehlin & Associés, Anna-Christina Chaves (legal); Fidufrance Avocats, Denys Angeloglou (financial due diligence); Eight Advisory, Pascal Raidron, Lionnel Gérard, Christophe Puissegur, François Gallizia (financial due diligence); EY Parthenon, Stéphan Bindner, Vincent Czeszynski (commercial due diligence); Arsene Taxand, David Chaumontet (tax); ERM, Amandine Carrage, Julien Famy (ESG due diligence).
Company – Sycomore Corporate Finance, François Vigne, Pierre-Arnaud de la Charrière, Jihane Kabouya (corporate finance); GCA, Alexandre Gaudin (legal).

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• Topics
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• Argos Wityu
• Take Private