PAROT GROUP: Lifting of conditions precedent in the context of the purchase of the majority block

Par Rémy EISENSTEIN - Groupe Parot announced on April 2, 2024 that all conditions precedent relating to the acquisition of Groupe Parot by NDK have been successfully lifted. This milestone marks a significant step forward in the acquisition process, demonstrating the strong commitment of the stakeholders to successfully conclude this transaction.

On December 22, the Parot Group announced that it had entered into exclusive discussions with a view to the acquisition by NDK, parent company of the Tressol-Chabrier Group, of a majority stake in the Parot Group. The lifting of all conditions precedent now paves the way for the finalization of the transaction, with a deadline of no later than April 30, 2024 for the transfer of the controlling block.

The filing of the mandatory simplified public purchase offer (the “OPAS”) by NDK on the balance of the Parot Group shares, not including the treasury shares held by the Parot Group, at the price of €8.83 per share should take place in accordance with the planned schedule and within the announced deadlines.

To this end, the Parot Group and NDK teams are working closely to finalize all aspects of this acquisition, respecting current regulations and best practices in corporate governance. The Parot Group and NDK remain committed to maintaining transparent communication and informing the market of any significant developments.

Alexandre Parot declared: “We are now very close to concluding this transaction within the planned deadlines. I am convinced that this merger will offer the Parot Group and its subsidiaries the continuity of human, technical and financial resources necessary for their growth. The combination of the resources and skills of the two groups will make it possible to achieve operational synergies allowing us to calmly approach the context of transition towards the electrification of vehicles and the major transformation that our sector is experiencing."