Zetes is an international corporation specialising in the provision of identification and mobility solutions. By using the latest technologies, Zetes enables its customers improve the speed and quality of their process execution and increase data accuracy, which in turn helps them to remain at the forefront of their industries.
The Zetes Group is based in Brussels and has more than 1100 employees in 21 countries across EMEA. In 2016, its turnover was €253.4 million. More information: www.zetes.com.
Panasonic agreed, on 22 December 2016, to acquire 50.95% of outstanding shares in Zetes via transactions with Zephir Corporation SA (23.70%), Copeba SA (24.67%) and individual shareholders, including management (2.58%).
At the same time, Panasonic also acquired an additional 5.26% of the outstanding shares of Zetes through several off-market transactions, including shares from the holders of outstanding stock options of Zetes, whom have all exercised their stock options following the acquisition of control over Zetes by Panasonic. The price that was paid by Panasonic in each of these transactions reflected a purchase price of EUR 54.50 per Zetes share.
Following the private transactions (outlined above) Panasonic held, 57.01% of the outstanding Zetes shares. Following the acquisition of its stake in Zetes, Panasonic launched a mandatory takeover bid for the remaining outstanding shares in Zetes that it did not yet own. The mandatory tender offer was launched by Panasonic Holding (Netherlands) B.V. on 18 May 2017 at a price of EUR 54.50 per Zetes share. On 20 June 2017, following the initial acceptance period of the mandatory tender offer, Panasonic announced it had acquired an additional 39.09% stake and now holds an aggregate total of 96.11%.
As Panasonic and its affiliates hold over 90% of the shares of Zetes following the closing of the takeover bid (and subsequent squeeze-out on 12 July 2017) the shares of Zetes were delisted from Euronext Brussels.
SDM-Valorum
Advised in the sale of
Zetes Industries SA
to