HID Global SAS entered into a share purchase agreement to acquire 14.03% stake in Evolis SA from Crédit Mutuel Equity SCR and Crédit Mutuel Innovation for ?32 million.

HID Global SAS entered into a share purchase agreement to acquire 14.03% stake in Evolis SA (ENXTPA:ALTVO) from Crédit Mutuel Equity SCR and Crédit Mutuel Innovation for ?32 million on July 19, 2023. HID also entered into put option agreement with the shareholders of Cedys & Co S.A.S. (?Cedys?) for all of the Cedys? shares, noting that Cedys owns approximately 84.4% of the Evolis shares.

The purchase price represents a premium of approximately 36% over Evolis? volume-weighted average share price on Euronext Growth Paris during the last 60 traded days up to and including July 17, 2023, of ?32.30. After the completion of the Acquisition, HID would own approximately 98.5% of the share capital and voting rights of the Company, (i.e. 5,140,349 shares) and would then launch a mandatory public tender offer (OPAS-RO)1 shortly thereafter for the remaining 1.5% outstanding shares of Evolis.

The Acquisition is conditional upon customary closing conditions and regulatory approval and would be expected to close during the third quarter of 2023.