Degroof Petercam–IMAP France advises holding company, K Eagle Investment, on initiation of a simplified public tender offer for shares of Keyrus Group

IMAP is pleased to announce that Degroof Petercam – IMAP France has acted as financial adviser and presenting bank for K Eagle Investment's takeover bid of Keyrus Group.

Keyrus Group is a global player that supports companies across all industries in their digital transformation through two distinct brands:

▪ Keyrus: Offers digital and data exploitation solutions. Corporate customers are major accounts
▪ Absys Cyborg: Implements ERP and modular management solutions for small and medium sized companies in France

With more than 3,500 employees in 26 countries on 4 continents, Keyrus Group generated sales of €352 million and EBIT of €16 million in 2022.

Prior to the announcement of the offer, Keyrus Group announced the signature of an investment protocol between Eric Cohen, the founding CEO, certain managers of the Group and BNP Paribas Développement (under the terms of which the signatories declared that they were acting in concert). This “Concert”, united in the holding company "K Eagle Investment", held 61.9% of the Company's share capital and 75.6% of its theoretical voting rights.

The proposed price of €7.00 per share represents a premium of +58.7%over the share price on June 5, 2023 (the last day before the announcement of the transaction) and +60.5% over the VWAP for the last 20 trading days. The takeover bid is for the entire share capital not held by the concert party, i.e., 5,255,477 shares representing a value of €36.8 million.

The Degroof Petercam team, led by Cyril Kammoun, acted as sole financial advisors and presenting bank to K Eagle Investment. This operation once again confirms Degroof Petercam’s expertise in stock market engineering operations.