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Press Release

Fieldfisher advises on the public buy-out offer followed by a squeeze-out initiated by Groupe Rousselet for the Ada shares

01/08/2022

Locations

France

Fieldfisher Paris Capital Markets Department acted as advisor to the transaction in the context of the public buy-out offer and the squeeze-out initiated by Groupe Rousselet (ex-G7) concerning the shares of its subsidiary Ada.
 
Groupe Rousselet, leader in mobility and storage services, filed on 31 May 2022, through Banque Degroof Petercam, a proposed public buyout offer followed by a squeeze-out for the shares of Ada, a car and van rental specialist with 1,200 outlets in France. The purpose of this transaction is to delist Ada's shares from the Euronext Growth® Paris market in order to simplify its operational functioning as the regulatory and administrative constraints related to its listing are no longer appropriate to its size and float.
 
Groupe Rousselet, has committed to acquire at a unit price of €18 the shares not held by the members of the Groupe Rousselet concert, i.e. 154,284 shares, representing 5.28% of the capital and 5.29% of the voting rights. At the end of the public buy-out offer for Ada shares, which ran from 7 to 20 July inclusive, Groupe Rousselet acquired 81,377 shares at a unit price of €18 and the concert thus holds 2,849,726 shares representing 97.51% of Ada's share capital.
 
The squeeze-out is scheduled for 1 August 2022 and will result in the delisting of Ada's shares from Euronext Growth® Paris.
 
Fieldfisher team was composed of Samuel Pallotto, partner and Mathilde Ghez, associate.
 
Samuel Pallotto, Head of Fieldfisher Paris Capital Markets Department, comments: "We are delighted to have advised Groupe Rousselet and Ada on the implementation of this public buy-out offer followed by a squeeze-out. The success of these highly regulated transactions illustrates our perfect knowledge of the constraints, mechanisms and challenges of the Euronext Growth® Paris market, as well as the strength of our Capital Markets business with a very significant number of transactions advised in recent months, further establishing our position as a key player in the small and mid-cap market".
 

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