(BFM Stock Exchange) – The portfolio management company listed on Euronext Paris, will be the subject of a simplified OPA of a shareholder concert composed of its main shareholder, which does not foresee to remove Altamir from the coast.

There is bustle around the discreet Altamir society. Amboise, its main shareholder, announced Friday, May 2, having the intention of launching a simplified public purchasing offer (OPAS) on the portfolio company.

To carry out this operation, Amboise previously formed a concert of shareholders also made up of TT investments and the Tcheino family, founder of Altamir. Together, this concert to date has 75.43% of the capital and 75.47% of the Amboise voting rights.

“The members of the concert intend to implement a common policy intended to bring together the capital around shareholders together [par de forts liens] With Mr. Maurice Tchenio, founder of Altamir, “said Amboise in a statement.

No side removal

With this in mind, this concert plans to launch an opas at a price per share of 28.50 euros. This offer exteriorizes a bonus of 21.3% compared to the closing course on Friday evening (23.50 euros).

Pending the launch of this operation, the Altamir action jumped from 20.4% to 28.30 euros this Monday, May 5 to get closer to the premium offered as part of this simplified OPA project.

Amboise specifies that the offer will target all Altamir shares not held by the concert (excluding self-detected actions), and that ALTAMIM’s B shares, or preferably actions without voting rights, will not be referred to by the offer. It is specified that Altamir will not provide the offer the actions it has.

At the end of this offer, Amboise does not intend to request the implementation of a withdrawal from the Altamir coast, even if the legal and regulatory conditions for the implementation of such an operation were met.

An offer in 2018

This announcement also occurs almost seven years almost day after the filing of a public purchasing supply project targeting the ALTAMIR shares.

In May 2018, Amboise had announced its intention to formulate an offer to purchase on all shares, at a price of 17.36 euros (dividend included), a premium of more than 25% compared to the rating of the title which prevailed before the announcement of the operation. Amboise held at the time 29.41% of the ALTAMIR’s shares and voting rights, and this operation enabled him to rise to 65% of the capital.

The company then motivated this project for several reasons. On the one hand, Amboise wanted to offer a way out to all the shareholders who had benefited from a favorable development in the Action Altamir action for several years.

On the other hand, Amboise wanted to constitute a shareholder base “united behind an ambitious project of growth and creation of value over time”. The main shareholder also intended to capture new growth prospects with the evolution of Private Equity (investment capital), through investments in new geographic areas or on new market segments.

“The vocation of Altamir is to allow any investor to access the asset class of Private Equity by the stock market. This is a unique positioning that meets the needs of a certain number of investors who do not wish or cannot invest directly in funds from Private Equity,” said Maurice Tchenio, president of Amboise.

As of December 31, 2024, the Altamir portfolio was valued at 1.62 billion euros and was made up of 67 companies, including 6 listed which represent approximately 2% of the fair value of the portfolio (Inmarsat, Innovation, Openlane, Pyycor, Thoughtworks and Verint). The company claims a re -evaluated net asset of almost 1.3 billion euros, or 35.06 euros per share for the year 2024.