Mr Bricolage announced on Monday that it had finalized the reorganization of its shareholding structure, with its member shareholders now holding a large majority of capital and voting rights, in line with the project presented at the beginning of June.
ANPF, owned by the network's shareholder members, acquired "2,350,000 Mr Bricolage SA shares from the Tabur family" through its subsidiary SIMB, according to the press release. This increases its indirect stake from 42.58% to 65.20% of the capital. These shareholders now hold 73.23% of the voting rights in Mr Bricolage SA, up from 50.01%.
The total value of the transaction was 34.5 million euros, representing a price of 14.70 euros per share. The share was trading at 12.84 euros (+0.94%) on Monday morning.
The transaction was financed in part by the group's own funds, amounting to €5.7 million, and also by a bank loan of €28.8 million. "This transaction preserves the shareholder stability of Mr Bricolage SA and allows its management to focus entirely on the operational development of the group," the company said.
The ANPF "has undertaken to vote at the next general meeting in favor of renewing Michel Tabur's term of office as director for six years." Mr. Tabur retains 3.28% of the capital in his personal capacity.
With its affiliated stores, Mr.Bricolage represents a network of 838 outlets in 12 countries and a sales volume of 2.16 billion euros in 2015.
Article published on Monday, July 11, 2016 on Le Figaro.fr