Today, Bpifrance, through Bpifrance Participations, announced its disposal of 1,095,559 Groupe Gorgé shares, representing circa 8.15% of Groupe Gorgé's share capital, for approximately €21 million.
Bertrand Finet, Executive Director of Bpifrance Investissement Mid & Large Cap, explained: "Bpifrance is very pleased to have guided and supported the development of Groupe Gorgé since 2011. Bpifrance recognizes the work carried out by management that MADE it possible for the Group to strengthen its positions in its historic segments, and to open up additional development perspectives with great potential, particularly in 3D printing."
Raphaël Gorgé, Chairman and Chief Executive Officer of Groupe Gorgé, added: "Groupe Gorgé wishes to thank Bpifrance for its support in the rollout of the Group's strategy since it acquired a holding in the Group. This disposal will allow us to grow and diversify the Group's shareholder base, and contribute to increased share liquidity."
Once the clearance and settlement transactions are completed, Bpifrance Participations will dispose of its entire holding in Groupe Gorgé.
The transaction was managed by Oddo & Cie, acting as Bookrunner on behalf of Bpifrance Participations.
This press release does not constitute an offer of shares for sale, and Bpifrance Participations' offer of the Groupe Gorgé shares does not constitute a public offer.
Bpifrance Press Contact:
Tel: +33 (0)1 41 79 83 76
This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.
Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties possibly mentioned in this press release; the strength of competition; the growth of the market; currency fluctuations; interest rate fluctuations; raw materials and freight price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key-men; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).
Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.
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About Groupe Gorgé
Established in 1990, Group Gorgé is an industrial group operating in different areas of expertise:
Smart Safety Systems – Using technology to work in risk environments;
Protection in Nuclear Environments – Protecting people and securing buildings operating with radioactive materials;
Industrial Projects & Services Conducting Robotics and Fire protection systems projects for industry and service-sector player;
3D Printing – Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.
In 2015, the Group reported revenue of €264.5 million. It is backed by 1,536 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.
isin code: FR0000062671
Ticker code: GOE
|US OTC market:
CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
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