Global law firm White & Case LLP has advised SES-imagotag, a specialist in digital solutions for retail commerce and global leader in smart digital labels, on a proposed partnership with BOE Technology Group, a leader in the semiconductor display industry and 'Internet of Things' technologies, to strengthen its global and technological leadership.
The main shareholders of SES-imagotag have entered into exclusive negotiations with BOE Technology for the disposal of a majority stake in SES-imagotag representing 55 percent of its capital at a price of €30 per share, valuing the entire capital at approximately €410 million on a diluted basis.
This acquisition would be led by a special purpose vehicle (SPV) created for this transaction. The management of SES-imagotag would invest together with BOE Technology Group, and would hold a minority stake in the SPV. Upon completion of the acquisition, the SPV would initiate a simplified tender offer at the same price of €30 per share.
The White & Case team in Paris which advised on the transaction was led by partners Hugues Mathez and Nathalie Negre-Eveillard, with support from associates Léo Catafau-Castellet and Louis Feuillée. Partner Alexandre Jaurett, with support from associate Céline Martinez, advised on employment aspects. Partner Yann Utzschneider, with support from associates Emily Xueref-Poviac and Jérôme Schall, advised on competition aspects.
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