Air Liquide: Successful public tender offer for LVL Médical – Completion of
PARIS -- October 12, 2012
As announced on June 8, 2012, Air Liquide* (Paris:AI) launched a simplified
public tender offer for LVL Médical after having acquired 70.49% of its share
capital from the company’s controlling shareholders.
The AMF (Autorité des Marchés Financiers) today published the results of the
simplified public tender offer initiated by Air Liquide on LVL Médical’s
shares and BSAAR** warrants which ran from September 21, 2012 through October
11, 2012 inclusive. 1,443,092 shares and 20,087 BSAAR were acquired. Air
Liquide thus holds 9,547,123 shares, representing 89.12% of LVL Médical’s
share capital and 89.09% of its voting rights, as well as 25,862 BSAAR
warrants. Taking into account the 940,108 treasury shares held by LVL Médical
Group, Air Liquide holds now more than 95% of LVLshare capital.
In the days ahead, Air Liquide plans to implement a squeeze-out on the
remaining LVL Médical shares and BSAAR warrants it does not already own. The
squeeze-out will be carried out under the same price terms as the offer, i.e.,
30.89 euros per share and 13.20 euros per BSAAR warrant.
LVL Médical is a historical player in the home healthcare sector, with 50,000
patients served at home in France. The company employs 750 people in France
and its 2011 sales in France amounted to €104 million.
This transaction gives Air Liquide full ownership of LVL Médical’s French
business operations for a net investment of €316 million.
Pascal Vinet, Vice President, Healthcare Global Operations and member of the
Group’s Executive Committee, commented: “We are delighted by the success of
the public tender offer for LVL Médical, which will enable us to carry out a
squeeze-out that will give us 100% of the share capital of LVL Médical as of
this October.This acquisition and that of Gasmedi in Spain, which was
completed last September, confirm our leadership in the European home
healthcare market. The combined expertise of these two companies, allied with
our capacity for innovation, will accelerate our development. Health is one of
the Group’s growth drivers.”
*by its subsidiary’s intermediary, Air Liquide Santé International
** Subscription warrants or BSAAR: redeemable warrants to subscribe or
Air Liquide is the world leader in gases for industry, health and the
environment, and is present in 80countries with 46,200employees. Oxygen,
nitrogen, hydrogen and rare gases have been at the core of Air Liquide’s
activities since its creation in 1902. Using these molecules, Air Liquide
continuously reinvents its business, anticipating the needs of current and
future markets. The Group innovates to enable progress, to achieve dynamic
growth and a consistent performance.
Innovative technologies that curb polluting emissions, lower industry’s energy
use, recover and reuse natural resources or develop the energies of tomorrow,
such as hydrogen, biofuels or photovoltaic energy… Oxygen for hospitals, home
healthcare, fighting nosocomial infections… Air Liquide combines many products
and technologies to develop valuable applications and services not only for
its customers but also for society.
A partner for the long term, Air Liquide relies on employee commitment,
customer trust and shareholder support to pursue its vision of sustainable,
competitive growth. The diversity of Air Liquide’s teams, businesses, markets
and geographic presence provides a solid and sustainable base for its
development and strengthens its ability to push back its own limits, conquer
new territories and build its future.
Air Liquide explores the best that air can offer to preserve life, staying
true to its Corporate Social Responsibility and sustainable development
approach. In 2011, the Group’s revenues amounted to €14.5 billion, of which
more than 80% were generated outside France. AirLiquide is listed on the
Paris Euronext stock exchange (compartment A) and is a member of the CAC 40
and Dow Jones Euro Stoxx 50 indexes.
Air Liquide’s Healthcare Business line
Air Liquide's Healthcare World Business Line serves over 6,000hospitals and
700,000patients at home throughout the world. It provides medical gases, home
healthcare services, hygiene products and medical equipment.
With 9,300employees, the Group’s Healthcare business line published
€2,076million in revenues in 2011. In 2012, SEPPIC (specialty ingredients)
integrated the Healthcare activity.
Air Liquide, European leader and 3^rd worldwide in home healthcare, provides
home healthcare services in compliance with medical prescription for patients
suffering from chronic illnesses such as COPD (Chronic Obstructive Pulmonary
Disease), sleep apnea and diabetes. These home healthcare services are being
developed in addition to hospital care, enabling patients to enjoy better
quality of life and local authorities to reduce costs.
Home Healthcare represents 45% of AirLiquide’s total 2011 Healthcare revenue.
Follow us on Twitter @AirLiquideGroup
+ 33 (0)1 40 62 51 31
+ 33 (0)1 40 62 59 62
+33 (0) 1 40 62 57 37
+33 (0) 1 40 62 57 18
Press spacebar to pause and continue. Press esc to stop.