Assa Abloy Buys 98.5% of Evolis for EUR225 Million
September 20 2023 - 2:59AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Assa Abloy said on Wednesday that it has acquired a
98.5% stake in French manufacturer of ID card printers Evolis for
224.9 million euros ($240.2 million).
The Swedish lock maker outlined plans for the acquisition in
July and said it will now file a mandatory public tender offer
followed by a squeeze-out to acquire the balance of the remaining
shares at the same purchase price per Evolis share of EUR43.75.
The acquisition was made through Assa Abloy's HID Global
subsidiary, which intends to complete the offer and squeeze-out
during the fourth quarter of 2023.
The total amount paid for the acquisition, the offer and the
squeeze-out will amount to around EUR228.4 million.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 20, 2023 02:44 ET (06:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Evolis (EU:ALTVO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Evolis (EU:ALTVO)
Historical Stock Chart
From Jul 2023 to Jul 2024