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Société Bic — M&A Activity 2013
Sep 27, 2013
1147_iss_2013-09-27_5bd1eeeb-0ed9-4a1e-b2ee-8ce27cbded8b.pdf
M&A Activity
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CELLO PENS: CLOSING OF THE CALL OPTION BIC STAKE INCREASED TO 55%
BIC Group today announces that is has completed the purchase of shares pursuant to the call option to increase its stake from 40% to 55% in Cello Pens 7 entities for 2.9 bn INR (35.2 million euros1 ).
Cello Pens financial statements will be consolidated within the BIC Group from 1 October 2013.
As part of the shareholders agreement signed on 21 January 2009 BIC Group has call options on the shares held by the Cello Group in Cello Pens 7 entities which allow BIC Group to increase its stake up to 90% by 2017. The Cello Group will have the ability to exercise put options, the first one increasing BIC's stake from 55% to 75% potentially in 2014. The price of these options is based on a formula tied to earnings.
Cello Pens is India's largest manufacturer and distributor of writing instruments with approximately 28% of India domestic pen market and a presence in Africa, Middle-East and Asia. With its broad portfolio of products and countrywide distribution network, the Cello® brand is one of the most recognized in India. For Fiscal year 2013 (end of March 2013) Cello Pens net sales were 6.4 bn INR (76.4 million euros1 ) with an EBIT margin of 28%.
1 83.80 INR = 1 euro (26-SEP-2013 ; ECB Reference rate)
Contacts
| Investor Relations: +33 1 45 19 52 26 | Press: +33 1 53 70 74 48 | |
|---|---|---|
| Sophie Palliez-Capian | Priscille Reneaume | |
| [email protected] | [email protected] | |
| Katy Bettach | Isabelle de Segonzac | |
| [email protected] | [email protected] | |
| Claire Doligez [email protected] |
For more information, please consult the corporate web site: www.bicworld.com
Disclaimer: This document contains forward-looking statements. Although BIC believes its expectations are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. A description of the risks borne by BIC appears in the section, "Risk factors" in BIC's 2012 Registration Document filed with the French financial markets authority (AMF) on March 27, 2013.
2013-2014 Agenda (all dates to be confirmed)
| 3rd Quarter & 9 months 2013 results |
October 23, 2013 | Conference call |
|---|---|---|
| FY 2013 results | February 12, 2014 | Meeting, BIC Headquarters |
| 1st Quarter 2014 results | April 24, 2014 | Conference call |
| 2013 Shareholders meeting | May 14, 2014 | Meeting, BIC Headquarters |
About BIC
BIC is a world leader in stationery, lighters, shavers and promotional products. For more than 60 years, BIC has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands in the world. BIC products are sold in more than 160 countries around the world. In 2012, BIC recorded net sales of 1,898.7 million euros. The Company is listed on "Euronext Paris" and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part of the following SRI indexes: FTSE4Good Europe, Euronext Vigeo Europe 120, Euronext Vigeo France 20, Ethibel Excellence Europe, Gaia Index and Stoxx Global ESG Index.