Gaussin SA (ENXTPA:ALGAU) signed an agreement to acquire an additional 51.43% stake in Metalliance Société Anonyme (ENXTPA:MLETA) on January 30, 2020. Prior to the transaction, Gaussin SA holds 44.32% stake and after the transaction, Gaussin SA will hold 95.75% stake in Metalliance Société Anonyme. The current management including Jean-Claude Cothenet, Chairman and Managing Director of Metalliance will remain at the helm for at least the next four years in order to continue its development. The new group will have close to 200 employees. The transaction is subject to the securing of confirmation of the maintenance of support from the banks of Metalliance and its subsidiary, Triangle Service Industrie and the securing of the finance required for the acquisition. The transaction is expected to be completed no later than July 1, 2020. The alliance between Gaussin and Metalliance is expected to produce strong synergies.

Gaussin SA (ENXTPA:ALGAU) completed the acquisition of an additional 51.42% stake in Metalliance Société Anonyme (ENXTPA:MLETA) from the senior management of Metalliance Société Anonyme on July 1, 2020. After the transaction, Gaussin SA holds 95.74% stake in Metalliance Société Anonyme. Gaussin financed the operation with a combination of cash, bank finance and vendor finance.