Luxembourg Utilities S.A., GEM Capital Management, Inc., Bernard Krief Consultants SA (ENXTPA:MLKRI) and industrialists (buyers) agreed to acquire 42.47% stake in Vergnet SA (ENXTPA:ALVER) from Bpifrance Participations SA on December 14, 2017. The buyers will also take over Vergnet's liabilities, which will be paid off over ten years or converted into shares. Upon completion of transaction, Patrick Werner will become Chief Executive Officer of Vergnet and nominate a new Board. 140 employees of Vergnet will be retained.

Luxembourg Utilities S.A., GEM Capital Management, Inc., Bernard Krief Consultants SA (ENXTPA:MLKRI) and industrialists (buyers) completed the acquisition of 42.47% stake in Vergnet SA (ENXTPA:ALVER) from Bpifrance Participations SA for €5 million on December 20, 2017. The consideration is for the stake and all other securities in possession of bpifrance and part of its claims on Vergnet.