15.12.2017 News
Oppenhoff advises SQS on the public takeover offer of Ardian/Assystem Technologies
Oppenhoff & Partner is advising SQS Software Quality Systems AG (Cologne) on the public takeover offer of the engineering group Assystem Technologies (Paris/Cologne).
Today, Ardian/Assystem Technologies has announced its intention to make the shareholders of SQS AG a voluntary public takeover offer for all shares of SQS AG. The offer price is 825 pence (GBp) per SQS share. Depending on the acceptance quota, a squeeze-out is subsequently planned. The total transaction volume is 320 million euro.
Innovative paths of legal counselling were required because the SQS share was primarily listed on the AIM (Alternative Investment Market) of the London Stock Exchange and the German Securities Acquisition and Takeover Act [Wertpapiererwerbs- und Übernahmegesetz, WpÜG] did not apply. For this cross-border takeover offer the parties had agreed on a partial reference to the provisions of the UK Takeover Code.
SQS specialises in software quality and the quality assurance of software-based processes. The combination with Assystem Technologies will create a global service provider for quality assurance and process integrity across the entire spectrum of physical and digital products in the regions and markets shared by the enterprises. Assystem Technologies is a portfolio enterprise of the investment company Ardian (formerly Axa Private Equity, Paris), which manages interests totally about 62 billion US Dollars for its investors from Europe, North America and Asia.
Oppenhoff & Partner has already advised SQS on several M&A project and capital measures.
The Oppenhoff team included Dr. Peter Etzbach (lead partner), Dr. Günter Seulen, Dr. Christoph Niemeyer, Johannes Janning (all corporate/M&A), Kathrin Vossen (employment), Marc Krischer (tax) and Dr. Daniel Dohrn (antitrust).
Oppenhoff & Partner stands for more than 100 years of top quality legal advice. Our independent law firm extensively advises national and international enterprises and entrepreneurs on matters of commercial and tax law.