White & Case advises Peugeot Frères Industrie on acquisition of Tivoly Group and simplified tender offer

Global law firm White & Case LLP has advised Peugeot Frères Industrie on its entry into exclusive negotiations for the acquisition of a majority stake in Holding Tivoly and the direct acquisition of shares in Tivoly S.A. from certain members of the Tivoly family.

A put option agreement was concluded on February 3, 2022 and the final documentation will be signed following the completion of consultation with the employee representative bodies, in accordance with the applicable legal requirements. The completion of the acquisition of the shares is expected to take place during the first half of 2022. If the acquisition is completed, Holding Tivoly will file a simplified tender offer for all Tivoly S.A. shares.

Peugeot Frères Industrie is a wholly-owned subsidiary of Etablissements Peugeot Frères, the head holding company of the Peugeot Family Group. Holding Tivoly is the majority shareholder of Euronext Growth-listed Tivoly S.A, the French market leader in cutting tools. 

The White & Case team in Paris which advised on the transaction was led by partners Franck De Vita and Thomas Le Vert and included partners Valérie Ménard, Jérémie Marthan and Estelle Philippi and associates Johanne Dubucq, Anne-Liz Salapian, Boris Kreiss, Dany Luu and Rahel Wendebourg.

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