PR Newswire/Les Echos/
CONTINUED LISTING OF CFAO SHARES ON EURONEXT PARIS
Sèvres, France and Nagoya, Japan, February 26, 2013
At the closing of the tender offer on the CFAO shares on December 17, 2012,
Toyota Tsusho Corporation (TTC) held 60,177,409 shares representing 97.81% of
the share capital and voting rights of CFAO and thus met the conditions
required for the implementation of a squeeze-out.
TTC announces today that it does not intend to implement a mandatory
squeeze-out procedure on the CFAO shares not tendered by minority shareholders
following the tender offer closed on December 17, 2012.
The CFAO shares will thus continue to be listed on Euronext Paris.
"Since our public tender offer for CFAO shares closed, we at Toyota Tsusho have
studied whether to maintain the CFAO's French listing carefully for two months.
As a result, we have reached a decision to waive our right of mandatory
squeeze-out procedure", declared Jun Karube, President of Toyota Tsusho
Corporation. "CFAO is a distinguished French company that has a proud history
of 125 years. Through continuing to be listed on public, we look forward to
ensuring the company's management credibility and transparency. And we are sure
that our determination will maintain CFAO's autonomy and entrepreneurship
spirit and support sustainable growth for CFAO."
Alain Viry, Chairman of the Management Board, commented: "I applaud TTC's
decision to maintain the Group's listing on the Paris stock market, in line
with the intentions announced at the time of the tender offer. This decision
allows those shareholders who have stood by us to continue to accompany CFAO's
growth. It also provides clarity in terms of corporate governance, thereby
guaranteeing for our partners autonomous management at the operational level,
as well as the continuation of the multi-brand strategy in our markets."
CFAO is the foremost specialized retail brand in its main business areas -
vehicle and pharmaceuticals distribution - in Africa and the French overseas
territories. It is a leading player in these regions in the import and
distribution of vehicles and pharmaceutical products, and related logistical
services, and certain manufacturing operations and technological services. CFAO
is present in 34 countries, 31 of which are in Africa and seven in the French
overseas territories, and had a headcount of 11,400 at end-2012.
In 2012, CFAO generated consolidated revenue of EUR3,585 million and recorded
recurring operating income of EUR290.3 million.
CFAO is now a 97.81 %-owned subsidiary of TTC (Japan).
CFAO is listed on NYSE Euronext in Paris.
Find CFAO on Bloomberg: CFAO:FP and Reuters: CFAO.PA
To find out more, go to www.cfaogroup.com
About Toyota Tsusho Corporation
Toyota Tsusho is a general trading company that develops business together with
over 500 consolidated Group companies in Japan and overseas around the world,
via a global network covering Japan and more than 60 other countries
Toyota Tsusho has a divisional system made up of seven divisions, namely the
Metals Division, the Global Production Parts & Logistics Division, the
Automotive Division, the Machinery, Energy & Project Division, the Chemicals &
Electronics Division, the Produce & Foodstuffs Division, and the Consumer
Products, Services & Materials Division.
With this system, the company provides products and services in a broad range
of business domains that are essential to realize the creation of a prosperous
and fulfilling society.
TTC reported consolidated net sales of 5,916 billion yen for the fiscal year
ended March 31, 2012.
+33 1 46 23 58 80
Investor and Analyst Relations
Vice President Financial Communications and Investor Relations
+33 1 46 23 56 51
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-0- Feb/26/2013 08:54 GMT
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