(Finance) – Sogefi“in the context of a process to enhance its Filtration division”, signed a put option agreement with the US investment fund Pacific Avenue Capital Partners, under which Carta Acquisition France and Carta Acquisition, corporate vehicles which refer to the fund, have undertaken unilateral, unconditional and irrevocable commitments to purchase, respectively – in the event of exercise of the put option by Sogefi – the entire share capital of Sogefi Filtration and Sogefi USA.
The Filtration division will operate under the Purflux Group name upon completion of the transaction.
Pursuant to the agreement of put optionsSogefi has granted the Carta US and Carta France vehicles a six-month exclusivity period to complete the transaction.
The exercise of the put option by Sogefi and the stipulation of the purchase and sale agreement relating to the proposed sale of the Filtration division (the “Operation”) can only take place once the consultation procedure with the trade union representatives, required by law, has been completed French.
The Transaction is in any case subject to obtaining the FDI (Foreign Direct Investment) authorization in Slovenia and the antitrust authorization in Morocco.
It is expected that, subject to the exercise of the put option by Sogefi, the Transaction can be finalized within six months from today.
(Photo: Photo by Cytonn Photography on Unsplash)