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Hoche Avocats advises Aures Technologies SA and its founder on the sale of a block of shares to Advantech Co., Ltd. prior to the filing of a mandatory tender offer on the company’s shares.
Hoche Avocats advised Aures Technologies SA and its founder and Chairman and CEO, Patrick Cathala, on the off-market sale by the latter of a block of shares representing 35.76% of the company’s share capital to Advantech Co., Ltd. prior to the filing of a draft mandatory tender offer on all the outstanding shares of Aures Technologies. Following this acquisition, the company will now operate under the new brand name ‘ADVANTECH-AURES’.
Founded in 1989 and listed on Euronext since 1999, Aures Technologies is a French company and IT manufacturer of complete hardware solutions for the retail, mass distribution and hospitality sectors, renowned for its POS and kiosk brands (point-of-sale systems and terminals, interactive kiosks). Aures’ international presence and business development is carried in more than 60 countries through four subsidiaries located in the UK, Germany, the USA and Australia and a network of distributors, resellers, agents and partners.
Founded in 1983 and listed on the Taiwan Stock Exchange, Advantech is a world leader in intelligent IoT systems and embedded platforms.
The acquisition of this block of shares was completed on 1 October 2024 and will be followed by the filing by Advantech with the French Autorité des marchés financiers of a draft mandatory tender offer on all the outstanding shares of Aures Technologies at a price of €6.31 per share (corresponding to the price per share for the acquisition of the block by Advantech), with a view to request the implementation of a squeeze out of the company if the conditions required by the applicable regulations are met.
Under the terms of the agreements between the parties, Aures Technologies has also undertaken to issue new convertible bonds for the sole benefit of Advantech, of which a first tranche of €2,500,000 was subscribed by Advantech on 1 October 2024.
This strategic transaction will combine the strengths of both companies to offer innovative solutions in the fields of retail, services, catering and smart cities.
Hoche Avocats advised Aures Technologies SA and Mr. Patrick Cathala on the legal aspects, with Didier Fornoni (partner), Vincent Guilaine (lawyer) and Antoine Bourgoin (lawyer) advising on corporate and capital market matters.
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Other advisers to Aures:
Financial advisor: TP ICAP.
Advantech’s advisors: Jeantet
Advantech was also advised by LCS & Partners in Taiwan.