Edition:
United States

Societe BIC absorbs Bic Clichy


Monday, 21 Aug 2017 01:57am EDT 

Aug 21 (Reuters) - SOCIETE BIC ::SAID ON FRIDAY, SOCIETE BIC AND BIC CLICHY DREW UP MERGER PLAN.BIC CLICHY WILL CONTRIBUTE ENTIRETY OF ITS ASSETS AGAINST TAKING OVER OF ITS LIABILITIES.AS SOCIETE BIC HOLDS 100 PCT OF SHARES OF BIC CLICHY AND UNDERTAKES TO HOLD THEM CONTINUOUSLY UNTIL COMPLETION OF THE MERGER, OPERATION IS FULL MERGER.THE MERGER WILL BE EFFECTIVE ON SEPT. 30, 2017 WITH RETROSPECTIVE EFFECT ON JAN. 1, 2017 FOR ACCOUNTING AND TAX PURPOSES.RESULTS OF ALL TRANSACTIONS AFFECTING ASSETS OR LIABILITIES CARRIED OUT BY BIC CLICHY FROM JAN. 1, 2017, TO COMPLETION OF MERGER WILL BE CHARGED OR CREDITED EXCLUSIVELY TO SOCIETE BIC.ENTITY'S ASSETS AND LIABILITIES OF BIC CLICHY WILL BE TRANSFERRED, AT NET BOOK VALUE AS OF DEC. 31, 2016, TO SOCIETE BIC; TRANSFERRED NET ASSETS AMOUNT TO EUR 1.29 BLN.DIFFERENCE BETWEEN TRANSFERRED NET ASSETS VALUE AND BOOK VALUE OF SHARES RECORDED IN SOCIETE BIC’S ACCOUNTS WILL LEAD TO MERGER PREMIUM OF EUR 492.4 MLN.THROUGH COMPLETION OF MERGER, BIC CLICHY WILL BE DISSOLVED. 

Company Quote

92.04
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16 Oct 2017