(News Bulletin 247) – The seed company will bid farewell to the Paris Stock Exchange on August 1, following the success of the simplified takeover bid initiated by its majority shareholder Limagrain at the end of April.

Vilmorin will leave the Paris Stock Exchange on August 1, 2023, after the success of the simplified public tender offer launched by its majority shareholder Limagrain, announced Thursday in a press release the Autorité des marchés financiers (AMF). The company was listed on the Paris Stock Exchange on November 3, 1993.

“The compulsory withdrawal will take place on August 1, 2023” and “will relate to 977,021 Vilmorin & Cie shares, representing 4.26% of the capital” of the company, indicated the stock market policeman.

At the closing of the simplified takeover bid, the agricultural cooperative Limagrain, majority shareholder of Vilmorin, had exceeded the thresholds of 90% of the voting rights and the capital necessary to withdraw Vilmorin from the Parisian listing.

“Finding greater freedom”

Limagrain, owned by 1,300 farmers in central France and present in 57 countries, had indicated at the end of April its intention to withdraw the world’s fourth largest seed company from the stock market in order to invest more freely in this activity.

This project “aims to allow Limagrain to regain greater freedom in its strategic choices, in particular with regard to its seed activities”, had then indicated in a press release the group, which intends to continue to expand, with online targets the adaptation of production to climate change.

The suspension of the quotation of the shares of the company is maintained “until the implementation of the compulsory withdrawal”, specified Thursday the AMF in its press release.

(With AFP)