Tikehau Capital to be soon listed on Euronext Paris

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French asset management group Tikehau Capital has announced the filing with the Autorité des Marchés Financiers (AMF) of a tender offer targeting the securities of Salvepar, a listed company that focuses on minority investments in listed and non-listed companies.

Tikehau Capital, which is currently reorganising its shareholding structure and governance as well as those of its subsidiaries, holds 58.8% of Salvepar’s share capital and 59.8% of the voting rights.

The tender offer comes together with an alternative simplified public cash offer. It targets the shares and the cash option bonds convertible into new ordinary shares and/or exchangeable for existing ordinary shares of the company.

This transaction will enable Tikehau Capital to become a listed investment and asset management company on Euronext Paris with €1.5bn shareholders’equity and €9.6bn of assets under management.

Salvepar shareholders representing 39.1% of the share capital (i.e., MACSF épargne retraite, MACIF, Suravenir, Compagnie Lebon, Fonds de garantie des assurances obligatoires (FGAO), Neuflize Vie, CARAC and Tikehau Capital Advisors) have committed to tender their shares to the offer, mainly to the exchange offer.

Tikehau Capital is guaranteed to hold more than 95% of the share capital and voting rights of Salvepar at the end of the offer.

The Board of Directors of Salvepar has approved the offer and considers the proposed transaction to be in line with the interests of Salvepar, its shareholders and its employees.

The tender offer is subject to review by French market regulator AMF.

Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital, stated: “The filing of this proposed public tender offer on Salvepar is a major step in the history and the development of Tikehau Capital. Consolidating our businesses simplifies the economic model of Tikehau Capital, a multi asset-class investor, which relies on its capacity to allocate capital across its various investment strategies. The simplification of our shareholder structure and our governance will benefit our development.”

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