GFI INFORMATIQUE
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GFI INFORMATIQUE IN EXCLUSIVE NEGOTIATIONS TO SELL ITS CANADIAN BUSINESSES
Saint-Ouen (France), 10 January 2012 - Gfi Informatique has entered exclusive negotiations with two institutional investors to sell its business interests in Canada.The planned transaction would reclassify the 62.4% of Gfi Solutions Group Inc. and its subsidiaries that Gfi Informatique holds along with the Fonds de solidarité FTQ and Magrit Group Inc.
In the first half of 2011, the businesses to be sold had revenues of €31.1 million and an operating margin of €4.7 million. Their consolidated net profit (attributable to the Group) was €1.2 million.
The transaction is an integral part of Gfi Informatique's strategy of refocusing its activities on France and Southern Europe, as presented in the strategic plan in the second half of 2009. Due to the Canadian activities' shareholding structure and portfolio of businesses, they had no commercial or technical synergy with the Group.
Subject to the outcome of the current negotiations, the transaction would value Gfi Informatique's investment at cost, at CAD 75 million. This move will help the Group to reduce its debt and simultaneously add to its financial resources for continued growth by acquisition. If the sale is finalised, a more detailed description of the terms and conditions will be issued at that time.
To facilitate this transaction, Gfi Informatique has agreed with the potential buyers to accelerate its plan to strengthen its integrated payment solutions offer by acquiring today, via Gfi Solutions Group Inc., Tender Retail Inc., with over 30 highly qualified employees.
With these transactions, Gfi Informatique is pursuing its strategy to become the regional leader in Europe and is taking on additional resources to advance its targeted acquisition strategy.
Next meeting: 2 February 2012 - announcement of fourth-quarter 2011 revenues and 14 March 2012 -announcement of annual results 2011.
Notice:
The items in this press release other than historical facts are estimates. They do not constitute guarantees because of the inherent difficulties in forecasting results. Actual results may differ significantly from explicit or implicit forecasts.
About Gfi Informatique
Gfi Informatique is a major player in value-added IT services and software in Europe, and occupies a strategic position in its differentiated approach to global firms and niche entities. With its multi-specialist profile, the Group serves its clients with a unique combination of proximity, sector organisation and quality industrial solutions. The group has more than 9,300 employees and had 2010 revenues of €658 million.
Gfi Informatique is listed on the Paris Euronext, NYSE Euronext (Compartment B) - ISIN Code: FR0004038099.
For more information: www.gfi.fr.
About FTQ
The Fonds de Solidarité FTQ is a labour-sponsored venture capital fund that calls upon the entire Quebec population for savings and solidarity. Its overriding mission is to contribute to creating and maintaining jobs in Quebec by investing in small and mid cap companies. It also aims to provide its owner-shareholders with a reasonable return. It is the only institution with a mandate to achieve this balance, which is a core principle of a union-backed venture capital company.
For more information: www.fondsftq.com
| Pour toute information, contacter : | ||
| GFI INFORMATIQUE Administrative and Financial Director Cyril Malher Tel. +33 1 44 O4 50 64 cyril.malher@gfi.fr | KEIMA COMMUNICATION Investor relations Emmanuel Dovergne Tel. +33 1 56 43 44 63 emmanuel.dovergne@keima.fr | PRESS RELATIONS Alix Hériard Tel. +33 1 56 43 44 62 alix.heriard@keima.fr |
