Cobepa agrees to sell its stake in Zetes

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Panasonic acquires an initial 50.95 percent stake in Zetes, an industry leader specialised in identification and mobility solutions. This transaction will be followed by a mandatory tender offer by Panasonic for the remaining shares of Zetes at a price of EUR 54.50 per share


Panasonic Corporation (Tokyo Stock Exchange: 6752) ("Panasonic"), a global leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, enterprise solutions and device industries, headquartered in Osaka, Japan, and Zetes Industries SA (Euronext Brussels: ZTS.BR) ("Zetes"), a European market leader of goods and people identification and mobility solutions headquartered in Brussels, Belgium, today announced that Panasonic has reached agreements to acquire all of the outstanding shares of Zephir Corporation SA, a holding company that owns 23.70% of the issued shares of Zetes, a further 24.67% of the issued shares from Cobepa SA and additional issued shares from certain other individual shareholders, including Zetes’ management, representing a total of 50.95% of the issued shares in Zetes for a total consideration of EUR 149.6 million (the "Acquisition").


The purchase price per share payable by Panasonic for the Zetes shares is EUR 54.50, representing a premium of 19.1% to the 30-day average share price and a premium of 27.7% to the three-month average closing share price of Zetes.


 The completion of the Acquisition by Panasonic is still subject to merger control approval.


> Official press release



Cobepa S.A.

Cobepa S.A.
Rue de la Chancellerie 2, box 1
1000 Brussels
+ 32 2 213 32 10
+ 32 2 513 17 02

Cobepa North America Inc.

Cobepa North America Inc.
Tower 49
12 East 49th Street
New York, NY 10017
United States
+1 (646) 679 5177

Ibel Beteiligungsberatung GmbH (Member of Cobepa Group)

Ibel Beteiligungsberatung GmbH
Theresienstrasse 1
80333 München
+32 2 213 32 10