Eren Groupe SA and the management of Orege Société Anonyme made an offer to acquire the remaining 48.73% stake in Orege Société Anonyme from Inocap SA, ORAXYS S.A., LA Banque Postale Asset Management, Efficap SAS, Climate Change Capital Private Equity fund, a fund of Climate Change Capital Asset Management, Oraxys Environment 1 SCA, and others for €38 million.
January 16, 2014
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Eren Groupe SA and the management of Orege Société Anonyme (ENXTPA:OREGE) made an offer to acquire the remaining 48.73% stake in Orege Société Anonyme (ENXTPA:OREGE) from Inocap SA, ORAXYS S.A., LA Banque Postale Asset Management, Efficap SAS, Climate Change Capital Private Equity fund, a fund of Climate Change Capital Asset Management, Oraxys Environment 1 SCA, and others for €38 million on January 15, 2014. Eren Groupe SA and the management will acquire 9.1 million shares for €4.2 per share in an offer for 10 days. The offer will also concern the 0.09 million shares which may be issued as a result of the exercise of stock options before the offer closes. The offer was opened on February 21, 2014 and will remain opened for a 10-day trading period. Eren Groupe SA and the management have no intention to proceed to a squeeze-out and expect Orege to remain listed following the transaction. Orege's Supervisory Board is expected to appoint an independent expert and provide its reasoned opinion on the terms of the tender offer. The transaction is expected to close in the first quarter of 2014. As of February 28, 2014, Climate Change Capital Asset Management decided to accept the offer for its 20% stake in Orege.
Catherine Zenoni-Himber, Asgar Sondarjee, Julien Benhamou, Marc Dunoyer, Pascal Bridier, Louis-Aynard de Clermont Tonnerre and Hervé Allot of Société Générale Corporate & Investment Banking acted as financial advisor and Marcus Schmidbauer, Emmanuelle Pontnau-Faure, Jean Paszkudzki, Alexandre Ippolito, François Carrey, Franck De Vita and Thomas Le Vert of White & Case acted as legal advisors to Eren. Marie-Laure Bruneel, Cédric Chanas, Delphine Vidalenc, Stéphanie Gérard, and Charlotte Bergeon of De Pardieu Brocas Maffei acted as legal advisor for Orege. Arié Flack of La Compagnie Financière du Lion and Gwenaël Le Berre of Invest Securities acted as financial advisors for Eren Groupe SA. Pierre-Louis Périn, Mathieu Terrisse and Edouard Baladès of King & Wood Mallesons SJ Berwin acted as legal advisor to Climate Change Capital Private Equity LP and Climate Change Capital Asset Management.
Orège specializes in custom development, manufacturing, and marketing of processes and materials used to treat sludge, residual industrial effluents and wastewater. The regenerated water can be used for industrial purposes or released back into the environment.
The company's activity is focused primarily on industrial firms in the petrochemical, paper, food-processing, metallurgy and municipal sectors.
Net sales are distributed geographically as follows: France and European Union (4.4%), the United Kingdom (66.8%) and the United States (28.8%).
Eren Groupe SA and the management of Orege Société Anonyme made an offer to acquire the remaining 48.73% stake in Orege Société Anonyme from Inocap SA, ORAXYS S.A., LA Banque Postale Asset Management, Efficap SAS, Climate Change Capital Private Equity fund, a fund of Climate Change Capital Asset Management, Oraxys Environment 1 SCA, and others for €38 million.
ORÈGE 
