Societe Generale sells 7.04% of Sopra Steria Group's share capital

Societe Generale sells 7.04% of Sopra Steria Group's share capital

Societe Generale sells 7.04% of Sopra Steria Group's share capital

The FINANCIAL -- Societe Generale announces the sale of 7.04% of Sopra Steria Group’s share capital held through its 100% owned subsidiary Geninfo.

Pursuing its disinvestment strategy from industrial holdings, Societe Generale Group will no longer hold any stake in Sopra Steria Group after the transaction.

The sale of shares will be offered in a private placement to be executed by way of an accelerated bookbuilding, according to Societe Generale.

Geninfo received from Sopra GMT (Pasquier and Odin families and the historical Managers), holding on 06/22/2015, 16.4% of the share capital and 25.3% of the voting rights in Sopra Steria Group, an interest to place an order for a maximum of 3.4% of Sopra Steria Group’s share capital for a price equal to the placement price.

Geninfo also received from Sopra Steria Group an interest to place an order for a maximum of 1.5% of Sopra Steria Group’s share capital for a price equal to the placement price, in the context of its share buyback program in order to potentially award or sell shares to employees and/or company officers.

This transaction has been presented to the Autorité des Marchés Financiers (AMF) in accordance with article 234-7 from the “Règlement Général”. During its June 23, 2015 session, the AMF noted that this transaction will not entail the filing of a mandatory takeover bid.

Following the full disposal of Geninfo stake in Sopra Steria Group, Geninfo, Sopra GMT and the founders will no longer act in concert and the shareholders’ agreement will be terminated, not affecting the existing concert on Axway.

The bookbuilding will commence immediately and will be managed by Societe Generale Corporate & Investment Banking, Sole Bookrunner on the transaction.