Acquisition of shares in CIAT and completion of acquisition of Zurflüh Feller

Acquisition of shares in CIAT and completion of acquisition of Zurflüh Feller

On July 23rd Somfy completed its acquisition of shares in CIAT, alongside some family shareholders and the management team of the company.

Somfy now holds 40% of CIAT Group, the takeover holding of CIAT, a capital investment amounting €33.6 million. This stake will be equity accounted in Somfy’s consolidation perimeter from July 1st 2008.

Somfy will have two seats out of five on the Supervisory Board of CIAT Group.

Some of the family shareholders previously involved in CIAT have reinvested in CIAT Group and hold 56.4% of the capital. 3.6% is held by the management.

CIAT will continue to be managed by Jean-Pierre Falconnier, Chairman of the Supervisory Board, and Francis Guaitoli, Chairman of the Directory Board.

Relations between shareholders are stipulated in a shareholder agreement, comprising a "put" exercisable by the family shareholders in 2012, and a "call" exercisable by Somfy in 2013.

This operation is part of the investment strategy of Somfy Participations, which looks towards dynamic companies with value creating projects, especially those with an international dimension as in the case of CIAT.

As previously announced, Somfy also completed the acquisition on July 17th of 100% of Zurflüh Feller through the takeover holding NMP SAS.

July 23rd, 2008

Reminder

Somfy is structured in two separate branches : Somfy Activities, dedicated to the Group’s core business, automation of building openings and closures; Somfy Participations, aimed at investing and handling stakes in industrial companies operating outside the group’s core business.

Contacts

Somfy : Nicolas Duchemin – Tel : 04 50 40 48 49
Shan : François-Xavier Dupont – Tel : 01 44 50 58 74

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