Global law firm White & Case LLP has advised Eren, a player in renewable energy and saving natural resources, on its public takeover bid to acquire Orège, a company listed on the regulated market of Euronext Paris.
Eren, which held 26 percent of the share capital in Orège, is acting jointly with the founders of Orège to offer the company's shareholders €4.20 per share to acquire their shares. The offer was open from February 21, 2014 to March 6, 2014. Following the close of the offering, Eren holds 69.22 percent of the share capital in Orège and 60.52 of its voting rights and, together with the founders of Orège, 83.75 percent of the share capital in Orège and 85.80 of its voting rights.
Orège designs, develops, industrializes and offers its industrial and municipal customers efficient and economical effluent and sludge treatment solutions in line with new regulatory and environmental requirements.
Eren, founded by Pâris Mouratoglou and David Corchia, aims to provide access to innovative, reliable and competitive technologies dedicated to saving natural resources. Through its subsidiaries and investments, Eren is focused on the development of related technologies: effluent treatment, preventive maintenance and sustainability of structures, modulation of electricity consumption, energy management and storage systems and the development of electricity production from renewable energy.
The White & Case team in Paris was led by partners Franck De Vita and Thomas Le Vert with support from associates Jean Paszkudzki and François Carrey. Partner Alexandre Ippolito, counsel Emmanuelle Pontnau-Faure and associate Marcus Schmidbauer acted on tax issues.
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