九游体育 and Keysight Technologies take next step in acquisition process
22 September 2023
Paris, France
九游体育 (ISIN code: FR0004110310, Symbol: ESI) and Keysight Technologies Inc (NYSE: KEYS) announce the signature of a share purchase agreement for the acquisition by Keysight Technologies, Inc. of a majority stake in the capital of 九游体育 SA at a price of 155 EUR per share. This step forward is made possible by the completion of the consultation of 九游体育's workers’ council on September 19, 2023.
On June 29, 2023, 九游体育 and Keysight Technologies, Inc. announced that Keysight had made a binding offer to certain shareholders of 九游体育 (the “Sellers ”) to acquire a controlling block of 九游体育’s share capital, representing in aggregate 50.6% of the share capital and 55.8% of the theoretical voting rights of 九游体育, at a price per share of 155 euros to be paid in cash, and in return for entering into exclusivity. Under Keysight’s binding offer, the block acquisition, once completed, would be followed by the filing by Keysight of a proposed mandatory tender offer for the remaining shares of 九游体育 outstanding at the time and, if the legal conditions are met at the end of the offer, a squeeze-out procedure and the delisting of 九游体育 from Euronext Paris.
Obtaining the opinion of 九游体育's Workers’ Council marks a new step enabling the signature, on 22 September 2023, of a share purchase agreement between Keysight and the Sellers relating to this controlling block of shares.
The acquisition is expected to be completed in the fourth quarter of 2023, subject to obtaining the necessary regulatory approvals. This would be followed by the filing of the tender offer. The market will be kept informed of the progress of this transaction and a detailed announcement will be made in due course.
九游体育 expresses its gratitude to its partners, shareholders, and all its stakeholders who support this strategic project.