Mubasher: Mannai Corporation on Sunday announced that it has acquired the remaining stake of French Gfi Informatique's shares.
The Qatar-based company Mannai completed the process through the buy-out offer 604,539 shares at a price of EUR 10.50 per share, according to a filing to the Qatar Stock Exchange (QSE).
The step comes along with a notice published by the French Financial Markets Regulator Autorité des marchés financiers (AMF).
“The squeeze-out of the remaining Gfi Informatique shares not held by Mannai Corporation was implemented today and the shares were transferred to Mannai Corporation for the same consideration,” the statement said.
The consideration of the buyout offer it being specified that the 70,030 treasury shares and the 272,244 free shares, which are subject to liquidity agreements between Mannai Corporation and their beneficiaries, were excluded from the squeeze-out, the statement added.
Accordingly, Gfi Informatique's shares are no longer listed on the regulated market of Euronext Paris.
In September, the corporation revealed its intentions to present a buyout offer to the French financial markets authority followed by a squeeze-out for the remaining shares of Gfi Informatique.
Mannai, which holds 96.60% of the share capital and voting rights of Gfi Informatique, will buy the remained stake at a price of EUR10.5 per share.
By the end of Thursday’s trading session, Mannai’s stock declined 0.17% at QAR 58.38.
