[Techpowerup.com] (PR) Seagate Completes Acquisition of a Controlling Interest in LaCie

News · 04-08-2012, 03:54 PM

Following their press releases issued on May 23, 2012 and June 14, 2012, Seagate Technology plc (NASDAQ:STX) and LaCie S.A. (Euronext:LAC) announced today the completion of the purchase by Seagate of all of the shares of Philippe Spruch and his affiliate, representing 64.5% of the outstanding shares of LaCie for a provisional price of €4.05 per share. The price payable to Philippe Spruch and his affiliate may be increased by 3%, to €4.17 per share, in the event that within six months following today's date, Seagate holds at least 95% of the share capital and voting rights of LaCie.

The completion of the transaction follows the required clearances from the French Ministry of Finance and the US and German Antitrust Authorities. As a result of the completion of the transaction, Seagate intends to file in the coming weeks with the French Autorité des marches financiers an all-cash simplified tender offer on the remaining LaCie shares.

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