Groupe Gorgé SA (ENXTPA:GOE) agreed to acquire remaining 24.8% stake in ECA SA (ENXTPA:ECASA) for €43.5 million on September 21, 2020. The transaction is a merger by absorption of ECA in Groupe Gorgé. Under the terms, Groupe Gorgé will issue 1.8 shares of Groupe Gorgé for each shares of ECA.

In a relation to this transaction ECA decided to initiate a buyback program for 9.96% stake for €28 per shares. ECA will retain it's brand name. ECA's current management team will continue to manage the activities of the ECA.

Transaction will have no consequences for ECA workforce. Transaction is subject to shareholders approval of ECA and Groupe Gorgé. As of September 21, 2020, Board of Directors of ECA approved the transaction and Board of Directors of Groupe Gorgé approved on September 22, 2020.

Olivier Grivillers and Olivier Salustro acted as merger auditors.