FRANCE - Séchilienne-Sidec undergoes EUR 277m refinancing

Séchilienne-Sidec is headquartered in Paris and was founded in 1984. Currently listed on Eurolist B, the company designs, builds and operates steam and electricity production units using fossil fuels, biomass and wind energy sources. Its business is concentrated in niche markets in the energy production sector.

Through its holding company Financière Hélios, Apax purchased 541,110 shares from Air Liquide to acquire a 39.5% equity stake in Séchilienne-Sidec in July 2005. At EUR 300 per share, the deal amounted to EUR 162.3m. On 6 September 2005 a public tender offer was made, giving company shareholders the opportunity to exit their stakes at the value of EUR 350 a share. The tender offer remained open until 20 September 2005, following which Financière Hélios gained 43.7% of the group’s share capital.

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