JOINT ANNOUNCEMENT BY AUDIKA GROUPE AND WILLIAM DEMANT HOLDING A/S
Finalization of the agreement between William Demant and Holton
William Demant has signed a Share Purchase Agreement to acquire a controlling interest in Audika Groupe, one of the leading networks of hearing healthcare providers in France.
Following the company announcement published on 17 February 2015, announcing the opening of the exclusive negotiations for the purchase of 53.9% of the share capital in Audika Groupe (“Audika”), Audika's works council rendered its opinion on 5 March 2015, and in accordance with the customary process in France, William Demant has signed a Share Purchase Agreement with Holton S.A.S. to acquire the controlling interest held by Holton S.A.S. in Audika.
Closing of the transaction to purchase the 53.9% of the share capital in Audika is now only subject to approval by the French Competition Authority following which, a mandatory public tender offer for the remaining 46.1% of the share capital in Audika outstanding will be launched (and, where applicable by a squeeze-out) at the same price as for the acquisition of the controlling interest of EUR 17.78 per share in accordance with French takeover regulations. Timewise, the mandatory public tender offer is expected to close in June 2015 at the earliest or more likely in the second half of 2015.
William Demant's advisers on this transaction are Moelis & Company and Latham & Watkins.
Holton's advisers on this transaction are Rothschild & Cie, Kepler Corporate Finance, Chaintrier Avocats and Weil, Gotshal & Manges.
With more than 470 centers in 91 different regions, Audika is the number one network offering hearing correction consulting and solutions in France. The Group has also been present in Belgium since 2013 (seven centers). Positioned on the market for hearing correction solutions for senior citizens, Audika aims to consolidate its leadership in a sector that remains highly fragmented. Audika is listed on Euronext Paris, Segment C.
Audika: Alain Tonnard / Etienne Sirand-Pugnet
+33 1 55 37 30 30
Other contacts: Actus Finance Guillaume Le Floch
+33 1 53 67 36 70
About William Demant:
The William Demant group is a leading international group which develops, manufactures and sells products and equipment designed to aid people with hearing loss. The group focuses on four business activities: Hearing Devices, Hearing Implants, Diagnostic Instruments and Personal Communication. The group operates in more than 25 countries, a total staff of over 9.000 employees and revenues of over DKK 9 billion.
Further information: Niels Jacobsen, President & CEO
Phone +45 3917 7300
Other contacts: Stefan Ingildsen, SVP Finance
Søren B. Andersson, VP Investor Relations
Phone +45 5117 6657
Rasmus Sørensen, IR Officer