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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  RUE DE COMMERCE    RDC   FR0004053338

RUE DE COMMERCE (RDC)
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RUE DU COMMERCE : PRESS RELEASE 27/10/2011 Agreement signed concerning the acquisition by Altarea Cogedim of a stake in RueduCommerce

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10/27/2011 | 06:00pm CEST

Press release
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 of concentrations.
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.
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 Regulations.
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.

Information meeting

An information meeting will be held at 8.45 a.m. on Friday 28 October

Park Hyatt Vendôme - 5 rue de la Paix - 75002 Paris

Coffee reception beginning at 8.30 a.m.

**

About RueduCommerce

Founded 10 years ago, RueduCommerce is the largest independent e-commerce company listed on the Paris stock exchange.

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 audience

· 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 to: www.rueducommerce.com/corporate

Contacts

Investor relations

Laurent Bertin - Chief Financial Officer laurent.bertin@rueducommerce.com

Arnaud Salla

Quadrant

Tel: +33 6 16 17 52 26 arnaudsalla@quadrant-finance.com

Press relations Cécile Courtois cecile.courtois@rueducommerce.com

Agnès Gilbert

Eudoxie PR

Tel: +33 6 84 61 30 71 a.gilbert@eudoxie-pr.com

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