Groenlo, the Netherlands, 1 July 2019, 17.45
Nedap N.V. and the other shareholders of Nedap France S.A.S. have received a binding offer from B&Capital, a French investment fund, for the acquisition of all of the shares of Nedap France S.A.S., the specialist system integrator for security systems in France. On the basis of this offer, Nedap N.V. (49.8% shareholder) and the other shareholders have decided to enter into exclusive negotiations.
This potential transaction constitutes Nedap’s next step in its strategy of focusing on the development and sale of proprietary products and solutions. Nedap France S.A.S. will remain a key business partner for Nedap’s Security Management and Retail business units, thereby safeguarding the continuity of Nedap’s operations on the French market.
Nedap France S.A.S. (revenue in 2018: €27.5 million) would thus be entrusted to a shareholder committed to its strategy of further expanding its leading role in the French security, retail and libraries market.
Nedap’s net proceeds from the sale are expected to be around €14 million, which should generate a book profit of approximately €9 million. The transaction is subject to customary conditions precedent and is expected to be closed before the end of the year.
The 49.8% stake in Nedap France was recognised in the 2018 financial statements under the ‘Associate’ item and the result attributable to Nedap under ‘Share in profit of associate’.
The net proceeds generated by the transaction will primarily be used for a one-off increase of the dividend for 2019. As usual, the dividend amount will be announced at the publication of the annual figures (2019). The required investment capacity and capital structure will be taken into account, in keeping with the financial objectives.
Reservation regarding statements containing expectations
The press release contains future expectations. These expectations are based on the information known by the
board of Nedap N.V. at the date of publication of this press release. These expectations might change due to the
realisation of unknown risks, uncertainties or other events causing a material change to these expectations.
Nedap N.V. is currently not aware of any events causing a material change to these expectations or of any events
or developments which may delay the closing of this transaction or this transaction not to occur. Nedap N.V. is
not liable or responsible for any statements or publications made by third parties regarding the transaction
mentioned in this press release.