Bolloré SE

Delisting Announcement • Jul 12, 2012

The Bolloré Group, the owner of an economic interest of 26.4% in Aegis, announces that it has accepted the offer of the Japanese group Dentsu to acquire its stake for a price of 240 pence per share:

• Bolloré Group is selling today to Dentsu 175.9 million shares representing 14.99% of Aegis for approximately €535m;
• Bolloré Group will sell to Dentsu, within two months, subject to regulatory approvals, an additional stake of 5%;
• Finally, the Bolloré Group will tender the remainder of its stake, representing 6.4%, to the offer to be launched by Dentsu.

If all these transactions were completed, the Bolloré Group would receive a total compensation of approximately €915m, thus recording a capital gain of approximately €450m.

In 2005 and 2006, Bolloré became the largest shareholder of Havas and took at the same time a significant financial position in Aegis, the last major independent media group in the world.

After having expressed reservations about Aegis' management at the time, the Bolloré Group had subsequently welcome the appointment of John Napier and Jerry Buhlmann in 2008. Since then, the Bolloré Group has continuously supported the outstanding achievements of this new management team, illustrated by the excellent terms of the disposal of Synovate and the considerable international expansion of Aegis.

In the meantime, Havas has also developed successfully and reimbursed its financial debts, as a result of which Bolloré has determined that its participation in Aegis was no longer strategic and announced in July 2010 that it was recorded it in its books as a pure financial holding.

Since the offer of Dentsu has been approved and is supported by the board and management of Aegis, the Bolloré Group has logically decided to support it too.