ASSA ABLOY AB (publ) (OM:ASSA B) signed an agreement to acquire additional 53.75% stake in agta record ag (ENXTPA:AGTA) from Banque Fédérative du Crédit Mutuel, Société Anonyme, CM-CIC Investissement and Bunzl sisters for approximately €510 million on March 6, 2019. Under the terms of the agreement, ASSA ABLOY AB will pay €70.54 per share. Post transaction, Assa Abloy will own 93.77% of agta record's share capital and voting rights of agta record. When acquisition is completed, Assa Abloy will launch, within 10 trading days as from completion date, in accordance with the shareholders' agreement in force between Agta Finance's shareholders, a public tender offer for the remaining outstanding shares in agta record representing approximately 7% of its share capital, at a price of €70.54 per share. All of the employees of agta record will join into ASSA ABLOY Group. agta record will be kept as a separate business area with headquarter in Fehraltorf, Switzerland.

The deal is subject to approval by European competition authorities. The transaction is approved by the Board of Directors of agta record. As of February 27, 2019, ASSA ABLOY received phase 1 conditional clearance by the EU Commission for the transaction. In order to get approval from EU commission, ASSA ABLOY agreed to sell certain operations to FAAC Group. agta record will also apply for the delisting of its shares from Euronext Paris immediately after the Acquisition. Subject to the Euronext Paris approval, the delisting will become effective shortly after the closing of the Offer. As previously announced ASSA ABLOY has entered into agreements with Italy based FAAC Group for the sale of certain agta record and ASSA ABLOY businesses. As of August 17, 2020, The deal has been received clearance an approval by European competition authorities. The deal is expected to close during the fourth quarter of 2019. As of February 28, 2019, the EU Commission requirements have been fulfilled and the closing of the acquisition is expected in the second half of 2020. Assa Abloy expects to complete the transaction in July 2020. As of August 17, 2020, the acquisition is expected to close during August 2020. The operating margin effect for ASSA ABLOY is initially expected to be slightly dilutive. The acquisition will be accretive to EPS from start.

Credit Suisse acted as financial advisor, Stefan Brunnschweiler, Alain Raemy, Daniel Jenny, Oliver Girstmair, Christian Gersbach, David Hürlimann, Jean-Robert Bousquet, Thibault Jabouley, Andrea Relly and Mark Cagienard of CMS (France and Switzerland) for Banque Fédérative du Crédit Mutuel, Société Anonyme, CM-CIC Investissement and Bunzl sisters. Thomas Brönnimann, Philippe Weber, Nicolas Birkhäuser, Andrea Giger, Samuel Hochstrasser and Alexis Brunner of Niederer, Kraft Frey and Mark Richardson, Celine Maironi-Persin and Viktoriya Bukina of Franklin & Associés acted as legal advisors to ASSA ABLOY AB. Kai Neuhaus and Björn Herbers of CMS DeBacker also acted as legal advisors for Banque Fédérative and CM-CIC. Duteil Avocats acted as legal advisors for Banque Fédérative du Crédit Mutuel and Bunzl sisters. François Duteil, Edouard Eliard and Cristian Rawlins of Cabinet Duteil acted as legal advisors for CM-CIC Investissement. Akilys Avocats acted as the legal advisor to CM-CIC Investissement and the Banque Fédérative du Crédit Mutuel.