White & Case Advises Cedip Infrared Systems in Acquisition by the American Company Flir Systems

Paris, September 20, 2007 ... White & Case has advised the founders and the directors of Cedip Infrared Systems ("Cedip"), a leading provider of infrared cameras and stabilized gimballed systems in France, on the structuring of its acquisition by Flir Systems ("Flir"), headquartered in the United States. Cedip is a French company listed on the Alternext stock market.

The takeover of Cedip by Flir Systems will take place first by the acquisition of several blocks of shares representing at least two-thirds of the share capital and the voting rights of Cedip, on the basis of a price of €19 per share (outside of any possible price supplement), which represents a premium of approximately 35 percent compared to the latest price quoted on September 13, 2007. The transaction is subject to several standard conditions, and must be authorized by the Minister of the Economy, Finances and Employment. Following the acquisition of these blocks, the acquirer shall file a draft of a mandatory Standing Market Offer (garantie de cours) with the AMF (the French market regulatory body), with the intent of acquiring the remaining shares of Cedip at the same price.

The White & Case team consisted of partner Bernard Tézé and senior associate Franck de Vita.

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Karima Ouadia
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