Agreement signed concerning the acquisition by Altarea
Cogedim of a stake in RueduCommerce
Draft takeover bid for RueduCommerce shares
Saint-Ouen, 27 October 2011, 4:30 p.m.
Gauthier Picquart, Patrick Jacquemin (together the "Manager
Shareholders") and Apax Partners1 have signed an
agreement with Altacom under which the Altarea Cogedim
subsidiary has agreed to acquire a block representing 24.13%
of share capital for 9 per share in cash. The acquisition is
subject to the condition precedent of obtaining authorisation
from the French competition authorities in respect of control
The Manager Shareholders also wanted to accompany Altarea
Cogedim in the acquisition of RueduCommerce. To this end,
they have agreed each to contribute in kind 250,000
RueduCommerce shares to Altacom on the basis of a value of 9
per share, subject in particular to the condition precedent
of the aforementioned acquisition going ahead.
At the end of the acquisition and contribution in kind,
Altacom will hold a 28.64% stake in
RueduCommerce has been notified of Altarea Cogedim's
intention to acquire all of the remaining RueduCommerce
shares via Altacom at a price of 9 per share and has noted
the forthcoming submission by Altacom of a draft takeover bid
for the RueduCommerce shares not owned at the opening date of
the Offer (the "Draft Offer").
As part of the deal, Apax Partners will sell its entire stake
in RueduCommerce, having supported the company for more than
10 years since it was founded in 1999, including the IPO in
2005 and its
transformation from an e-commerce website into an online
marketplace ("La Galerie").
1 Shareholder of RueduCommerce via FCPR Apax France V
and listed company Altamir Amboise.
A meeting of RueduCommerce's Board of Directors will be
called once the Draft Offer has been submitted in order to
proceed with the appointment of an independent expert in
accordance with Article 261-1 of the AMF General
The Board of Directors will meet again at a later date to
give an informed opinion on the Offer in the light of the
independent expert's report.
An information meeting will be held at 8.45 a.m. on Friday 28
Park Hyatt Vendôme - 5 rue de la Paix - 75002 Paris
Coffee reception beginning at 8.30 a.m.
Founded 10 years ago, RueduCommerce is the largest
independent e-commerce company listed on the Paris stock
The RueduCommerce Group:
· Comprises four flagship brands: RueduCommerce.com,
TopAchat.com, Clust.com and Alapage.com
· Is one of the top three e-commerce websites in terms of
· Represents 8 million customers
· Offers around 2 million products for sale covering high
tech products, beauty, fashion, consumer electronics, toys
and games, sport, DIY and cultural goods.
As the only e-commerce website offering ISO 9001 certified
after-sales support, RueduCommerce was voted internet users'
favourite website in 2008.
The Group is listed in Compartment C of NYSE Euronext Paris
(ISIN: FR0004053338 - Ticker: RDC). For more information go
Laurent Bertin - Chief Financial Officer
Tel: +33 6 16 17 52 26 email@example.com
Press relations Cécile Courtois
Tel: +33 6 84 61 30 71 firstname.lastname@example.org