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EDF ENR looking to sell Supra stake to Perceva Capital

EDF Energies Nouvelles Réparties (EDF ENR) has entered exclusive negotiations with Perceva Captial with a view to sell its majority controlling stake in Supra SA (listed on Eurolist Compartment C), whose main activity is the design, the manufacturing and the distribution of heating appliances, notably with wood.  EDF ENR currently holds 81.3% of Supra SA’s capital.

Perceva Capital’s objective is to support Supra SA’s strategic plan, aimed at consolidating the company’s market leading position, both in France and for export, upheld by Supra SA’s management team.
 
Perceva Capital has offered to acquire 58% of Supra SA’s shares from EDF Energies Renouvelles Réparties at a price of EUR10.88 per share, with EDF ENR becoming a minority shareholder via the investment vehicle to which it would bring its remaining participation in Supra SA on the basis of the same price of EUR10.88€ per share.
 
Perceva Capital’s proposal will soon be submitted to Supra SA’s Workers’ Council.  Completion of this transaction is also subject to approval by all relevant French market authorities.  If completed, a simplified public tender offer for the shares of minority stakeholders would be submitted to the French Autorité des Marchés Financiers (AMF) at a price of EUR10.88 per share.

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