France-based Technip has entered negotiations with shareholders to acquire all of their shares in Cybernetix, representing 45.7% of the share capital.
Technip received an exclusive commitment from Gilles Michel, its holding Askoad Conseil, Comex and Sercel Holding for the share acquisition.
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The transaction is subject to consultation with Cybernetix employee representatives, to be held on 14 November 2011.
Technip will file a takeover bid for all of the remaining Cybernetix shares at the same price of €19 each, which would value the company’s shares at €30.9m.
