Adecco announces successful result of the tender offer for Altedia in France
Adecco SA (Swiss Stock Exchange, ADEN), the worldwide leader in Human Resource services, announced today the successful result of the tender offer to acquire the remaining shares of Altedia SA (Paris Stock Exchange, TLA), a major player in France in reorganizations, career transition, social engineering and human capital management.
May 26, 2005
Jerome Caille, commenting on the acquisition, said, "Altedia's business is fully complementary with our existing Career Services activities, with the addition of highlevel consulting capabilities in the fields of restructuring and reorganizations. We are already working together with great success, for the benefit of our clients."
Raymond Soubie, president and founder of Altedia, commented on the transaction: "The partnership with Adecco offers a great opportunity to extend Altedia's consulting services to other European countries, thus following the increasing demand for crossborder HR solutions."
This announcement follows an earlier announcement of the French Stock Market Authority (Autorité des Marchés Financiers, "AMF"), in which it was mentioned that the acquiring entity reached 96.76% ownership of the share capital of Altedia and at least 95.24% of the corresponding voting rights.
As previously announced, the Adecco Group intends to file with the AMF a minority buy-out offer followed by a compulsory acquisition of all remaining shares, in order to
achieve 100% ownership of Altedia.
Altedia will be fully consolidated in Adecco's accounts as of May 2005.