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Contemplated acquisition of Kerneos by Imerys
On 11 December 2016, Imerys announced the contemplated acquisition of Kerneos, global leader in calcium aluminate based high performance binders, from Astorg for a total amount estimated in enterprise value of EUR 880 million. This transaction, entirely financed by available resources of Imerys, remains subject to consultation of staff representation bodies as well as to approval by regulatory authorities concerned.
Acquisition of S&B by Imerys
Completion of the acquisition by Imerys of the Greek group S&B on 26 February 2015. The purchase price was set at EUR 624 million for all the shares, including a performance amount of EUR 21 million. Through this acquisition, partly paid in Imerys shares, the founding shareholder of S&B, the Kyriacopoulos family, holds a stake of around 4.7% in Imerys’ capital. GBL’s shareholding was slightly diluted, to 53.9% at the end of 2015 (from 56.5% at 31 December 2014).
Acquisition of exclusive control of Imerys
In April, GBL acquired the full 25.6% stake in Imerys held by Pargesa Holding S.A. for EUR 1,087 million, raising its stake to 56.4% of the firm’s capital and therefore securing sole control over this asset. GBL marginally increased its investment in the company during the year, bringing it to 57.0% in capital and thereby exceeding the threshold of two thirds of voting rights.
Participation in the capital increases of Lafarge, Pernod Ricard and Imerys
During the first half of 2009, GBL invested nearly EUR 485 million in the capital increases launched by Lafarge (EUR 1,500 million; EUR 16.65 per share), Pernod Ricard (EUR 1,036 million; EUR 26.70 per share) and Imerys (EUR 251 million; EUR 20.00 per share) in accordance with its role of long-term shareholder.
Investment in Imerys
The stake in Imerys rose from 26.8% to 30.5% during the year, corresponding to an investment of around EUR 100 million.
Sale of Calgon and Copperweld by Imerys
In July 1999, Imerys sold its speciality chemicals interests (held by Calgon, a subsidiary of English China Clays, ECC) to Degrémont, a subsidiary of Suez Lyonnaise des Eaux, for a consideration of USD 425 million. Imerys also agreed to sell ECC's metals processing interests, Copperweld, to the American steel company LTV Corporation for a consideration of USD 650 million.
Takeover bid for English China Clays by Imerys (formely Imétal)
The friendly takeover bid by Imerys (26.0% owned by GBL) for English China Clays (ECC) was completed successfully. The revised offer price of GBP 2.50 per ECC share valued ECC at EUR 1.1 billion. On completion of this transaction, Imerys held 100% of the share capital of ECC.
Merger and absorption of Parfinance by Imétal
Parfinance was Pargesa/GBL Group's French holding company and its main asset was a 54.4% holding in Imétal. The shareholders of Parfinance and Imétal approved the merger of these two companies. As at 30 June 1998, after the merger, GBL held 23.4% of Imétal's capital; together GBL and Pargesa, held over 50% of the capital. Prior to this transaction, Parfinance:
- sold its Axa-UAP and Paribas shares, producing net profit of BEF 1,4 billion for GBL;
- distributed an exceptional dividend, of which GBL received BEF 6.4 billion.
Passing the 50% mark/threshold in the capital of Imétal
Having passed the 50% mark in terms of voting rights during the summer of 1991, Parfinance reached the 50% level as regards share capital in April 1992. The two entities Imétal and Parfinance merged in June 1998.
Strengthened position in Imétal
Parfinance's holding in the share capital of Imétal was gradually increased from 28.1% at the start of the year to 42.1% by the end of the year.
A 28.1% stake acquired in Imétal
Having acquired 19.9% of the share capital of Imétal between April and July 1987, Parfinance increased in 1988 its holding in several steps so that by the end of December 1988 it represented 28.1% of the share capital.