As an integrated Group operating in all event professions, GL events works in three major segments:
event organisation, event venue management and services for fairs, congresses and events.
© Odile Decq architect / Felice Varini – Altitude 150
On the 26th of May 2000, Générale Location signed agreements with the principal shareholders of SF Protection, a company registered on the Open Market of the Paris Bourse, representing 90.34 % of the capital and 92.93 % of the voting rights.
SF Protection Company is both hirer and manufacturer of dismantable buildings for industrial use and for events. In 1999, SF Protection Company realized consolidated net sales of 81.28 million French Francs (12.39 million Euros) for a net consolidated group profit of 8.23 million French Francs (1.25 million Euros).
SF Protection Company's objectives for the on-going fiscal year are, on one hand, consolidated net sales superior to 100 million French Francs (15 million Euros) and, on the other, expressed in percentage of the net sales, an operating profit superior to 16% and a net consolidated group profit superior to 8%.
These two figures compared to Générale Location's 1999 performances of 8.5 % and 3.4 % clearly indicate the positive nature of this transaction, through which the shareholders undertook to bring forward to Générale Location their interest in SF Protection in return for Générale Location shares and the payment of a balancing cash adjustment based on a 110 million French Francs valorization (16.7 million Euros), that is a price per share of 155.53 French Francs (23.71 Euros).
Moreover this transaction, in compliance with legal and regulatory obligations, remains subjected to Générale Location's shareholders's approval, who will convene for this occasion at the Annual General Meeting.
The industrial and trade synergies expected from this transaction will notably allow Générale Location to place itself as Europe's leader in the business segment of rental of temporary buildings, already largely used by the group within the framework of its international development for major events.
SF Protection, France 's leading manufacturer and hirer of dismantable buildings for industrial use, listed on the Open Market at the Paris Bourse, joins Générale Location.
SF Protection's Supervisory Board gave its approval for the signature of the agreements and accordingly, the shareholders, representing 90.34 % of the capital and 92.98 % of the voting rights, undertake to sell their interest to Générale Location, by way of contributions subjected to the approval of Générale Location's shareholders, who will convene at the Annual General Meeting.
SF Protection, who, in 1999, posted consolidated net sales of 81.28 million French Francs (12.39 million Euros) for an operating profit of 12.62 million French Francs (1,92 M Euros) and for a net consolidated group profit of 8.23 million French Francs (1.25 million Euros) will bring to Générale Location a first rate diversification. Constituted as thus, the new group will become Europe's number one in the business segment of dismantable buildings.
GL events, bringing people together
Managing Director Corporate Finances and Administration : Erick ROSTAGNAT
Telephone : + 33 4 72 31 54 20
Fax : + 33 4 26 20 42 00
Email : email@example.com
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581