PIZZORNO: Paprec becomes majority shareholder

PIZZORNO Environnement announced that the Paprec Group has received approval from the French Competition Authority to acquire 30.64% of PIZZORNO's shares. This sale, completed at a price of €62.50 per share, will allow Paprec to hold 50.64% of the capital, thus becoming the majority shareholder. The Pizzorno-Devalle family will retain 21.18% of the capital and 30% of the voting rights, remaining a key player in the group.

Paprec, in partnership with the Pizzorno-Devalle family, plans to launch a mandatory simplified public tender offer for the remaining shares, also at €62.50 per share. This transaction, however, excludes the mandatory delisting of Pizzorno. There is now no uncertainty surrounding the completion of this transaction, which is expected to be finalized shortly.