Seagate and LaCie complete acquisition

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Following their press releases issued on May 23, 2012 and June 14, 2012, Seagate  and LaCie S.A. have announced the completion of the purchase by Seagate of all of the shares of Philippe Spruch and his affiliate, representing 64.5% of the outstanding shares of LaCie for a provisional price of €4.05 per share. The price payable to Philippe Spruch and his affiliate may be increased by 3%, to €4.17 per share, in the event that within six months following today's date.

The completion of the transaction follows the required clearances from the French Ministry of Finance and the US and German Antitrust Authorities. Furthermore, as a result of the completion of the transaction, Seagate intends to file in the coming weeks with the French Autorité des marches financiers an all-cash simplified tender offer on the remaining LaCie shares.

As previously announced, Ricol Lasteyrie & Associés has been appointed as independent expert by the Board of Directors of LaCie on May 23, 2012. The Board of Directors welcomes the revised offer price and intends to support the revised offer as long as the final report of the independent expert affirms the valuation.

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