Press Release of SAS Shipping Agencies Services Sàrl1

09 Oct 2024 17:45 CEST

Completion of the acquisition of 42.06% of the share capital of Clasquin by SAS, at a price of €142.03 per Clasquin share

Regulatory News:

Following the announcement of 21 March 2024² and the obtention of the necessary clearances from the competent regulatory authorities, SAS Shipping Agencies Services Sàrl ("SAS"), a subsidiary of MSC Mediterranean Shipping Company SA, confirms the completion of the acquisition of the shares held by Mr. Yves REVOL and OLYMP³ in Clasquin SA, representing 42.06% of the share capital of Clasquin SA, at a price of EUR 142.03 per share.

This price represents a premium of 13.17% to the last closing price and 14.22% to the volume-weighted average over 60 trading days before announcement of the offer, and of 59.94% to the last closing price and 70.42% to the volume-weighted average over 60 trading days before the announcement of the entry into exclusive negotiations between Mr. Yves REVOL and OLYMP, on the one hand, and SAS, on the other hand dated 4 December 2023.

SAS will file on 14 October 2024 a tender offer with the Autorité des Marchés Financiers (AMF) for the remaining shares in the capital of Clasquin, at the same price of EUR 142.03 per share. SAS intends to proceed with a squeeze-out should applicable conditions be met upon closing of the offer.

The transaction is supported by the Chief Executive Officer of Clasquin and other key management team members, who have committed to tender all of their Clasquin shares into SAS’ tender offer, representing in aggregate c.8.5% of the share capital⁴.

¹ 11B, Boulevard Joseph II, L - 1840 Luxembourg.
² See SAS’s press release of 21 March 2024.
³ As well as Mrs Evelyne Revol and the Yves Revol Foundation.
⁴ The tender commitments will lapse in the event of a competing offer made at a price higher than SAS’ tender offer and cleared (déclarée conforme) by the AMF, unless SAS decides to improve upon the terms of the competing offer under the conditions set forth in the AMF General Regulation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241009220183/en/

SAS Shipping Agencies