(News Bulletin 247) – The specialist in air and maritime transport engineering should change its reference shareholder, a subsidiary of MSC wishing to acquire the block held by the Revol family. Before launching a public tender offer.
Present on the Paris Stock Exchange since 2006, will Clasquin leave the Parisian market? We are not there yet, but the French ETI specializing in engineering for air and maritime transport is in any case very close to being the subject of a public purchase offer.
In a press release published Monday evening, the company announced that Yves Revol (who bought Clasquin in the early 1980s) and his company Olymp had entered into exclusive negotiations with Shipping Services Sarl (SAS), a subsidiary of the transport group maritime MSC, with a view to selling all of their shares.
This block represents approximately 42% of Clasquin’s capital. The press release does not mention a price per share. “The acquisition price of the shares would be determined on the basis of an enterprise value of 325 million euros and after taking into account adjustments to be agreed between the parties,” the company nevertheless indicates.
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The acquisition of this block will obviously be subject to the competent authorities and will require obtaining the appropriate competition authorizations.
In the event that SAS actually repurchases this block of shares, the company then intends to file a public purchase offer (OPA) for Clasquin with the Financial Markets Authority (AMF).
On the Paris Stock Exchange, Clasquin shares jumped 42.45% to 126.5 euros in the afternoon. “Unless there is a major adjustment, the offer should bring out a very substantial premium, with the current capitalization standing at 204 million euros,” underlined in a note published before the opening of the Invest Securities market on Tuesday.
Clasquin has seen its turnover jump in recent years, going from 331 million euros in 2019 to 877 million euros in 2022. Its current operating margin reached almost 4% last year and its net profit 21 .8 million euros. This good dynamic has, however, normalized this year, with a 38.6% decline in turnover in the first half and a 43% drop in current operating profit.
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