ONE GLOBAL GROUP
Somfy operates in 59 countries and is the world leader in automatic controls for openings and closures in homes and buildings. It offers a range of motorized solutions and control points and is a key player in smart home systems.
12/03/2024
La Fondation Somfy
Organization
22/01/2018
Commitment
Finance
News & media
27/05/2020
Exit from Faac share capital
05/05/2015 - 18:00 CET
5 May 2015
Press Release
Exit from Faac share capital
Faac and Somfy Groups have concluded that there are no joint development projects and have therefore decided to undo the existing capital links (Somfy’s 34% holding in the share capital of Faac and Faac’s 7.3% stake in Somfy).
The transaction to unwind their respective interests will involve the exercise of a statutory right of withdrawal and will thus result in the cancellation of Faac’s shares held by Somfy. As consideration for this, Somfy will receive the 571,400 Somfy shares held by Faac and a balancing cash adjustment of €50.7 million.
A portion of these shares will be cancelled in order to limit the percentage of the treasury shares held by Somfy to 7.2% following the transfer.
The various arrangements related to the transaction should take effect within the next few days and should therefore be included in the financial statements for the first half-year.
Corporate Profile
Somfy Group is the global leader in opening and closing automation for both residential and commercial buildings.
Contacts
Somfy
Pierre Ribeiro: +33 4 50 40 48 49 / Jean-Michel Jaud: +33 4 50 96 70 65
Shan
François-Xavier Dupont: +33 1 44 50 58 74