Schneider Electric Industries SAS intent to launch tender offer to acquire remaining 32% stake in IGE+XAO SA (ENXTPA:IGE) for approximately €110 million on July 20, 2021. Under the terms of transaction, Schneider Electric Industries offered to purchase remaining 0.416071 million shares at a purchase price of €260 per share. The Offer will be financed using funds available in the Offeror's treasury. The Offeror will retain the current management team of IGE+XAO. Alain di Crescenzo would remain Chief Executive Officer of IGE+XAO. Proposed Offer remains subject to the review and clearance decision of the AMF. The Offer will not be subject to any regulatory approval or other condition. In the event that, following the Offer, SEISAS holds at least 90% of the share capital and the voting rights of IGE+XAO, SEISAS intends to implement a squeeze-out procedure for all the shares it does not own. The squeeze-out would be subject to the payment of an indemnity equal to the Offer price. If the Offer is followed by a squeeze-out, this would result in the shares of IGE+XAO being delisted from the Euronext Paris regulated market. The offer is expected to take place in October 2021. The Offer will be open on November 11, 2021 and will close on November 24, 2021. Autorité des marchés financiers has approved the response for the offer with the offer period is of 10 trading days. BNP Paribas and Exane BNP Paribas have been mandated for the implementation of the Offer. Didier Kling and Teddy Guerineau of Cabinet Didier Kling et Associés, Investment Banking Arm acted as fairness opinion providers to the board of directors of IGE+XAO.

Schneider Electric Industries SAS completed the acquisition of a 15.9% stake in IGE+XAO SA (ENXTPA:IGE) in Quarter 4, 2021.