Sopra Steria Group SA (ENXTPA:SOP) made an offer to acquire 5.97% stake in Sodifrance SA (ENXTPA:SOA) for €3.9 million on July 9, 2020. Under the terms of transaction, Sopra Steria will tender 0.21 million shares at the purchase price of €18 per share. The consideration amount will be financed by available cash as well as Sopra Steria Group's various undrawn lines of credit.

In a separate transaction, Sopra Steria Group SA will purchase 94.03% stake in Sodifrance SA via the acquisition of HP2M SAS and STRATEG'e.BOSS SAS. Sopra Steria will file a proposed delisting offer with the AMF (France's financial markets regulator). Transaction is subject to AMF approval, customary closing conditions, including completion of Sopra Steria acquisition of HP2M SAS and STRATEG'e.BOSS SAS.

An independent expert will be appointed by Sodifrance's Supervisory Board to assess the fairness of the financial conditions of Sopra Steria Group's delisting offer. The offer could be finalized in October 2020 and the mandatory delisting procedure could take place in November 2020. On October 28, 2020, the mandatory delisting procedure will be initiated, insofar as the conditions are already met.

As per the update on October 5, 2020, the offer opening date is October 29, 2020 and closing date is November 11, 2020.