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Parjointco and Pargesa Announce Simplification of Current Holding Structure of Groupe Bruxelles Lambert
Parjointco and Pargesa Announce Simplification of Current Holding Structure of Groupe Brux...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\nParjointco and Pargesa Announce Simplification of Current Holding Structure of Groupe Bruxelles Lambert\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL, March 11, 2020\n\n\n\n \nReaders are referred to the section \"Forward-Looking Statements\" at the end of this release. \n \n MONTRÉAL, March 11, 2020 /CNW Telbec/ - Parjointco N.V. (\"Parjointco\"), a company jointly controlled by Power Corporation of Canada (\"Power Corporation\" or \"PCC\") (TSX: POW) and the Frère family, and Pargesa Holding SA (\"Pargesa\") today announced an agreement for a proposed transaction that would simplify the group structure pursuant to which Pargesa shareholders will receive shares of Groupe Bruxelles Lambert (\"GBL\"). Following the proposed transaction, it is anticipated that Pargesa will be delisted from the SIX Swiss Exchange and Parjointco is expected to retain de facto control of GBL. \n\"The proposed reorganization of Pargesa will further simplify Power Corporation's corporate structure and is part of our ongoing strategy of value creation,\" said Jeffrey Orr, President and Chief Executive Officer of Power Corporation.\nParjointco and Pargesa have reached an agreement on the terms and conditions of a simplification of their group structure by way of a public exchange offer initiated by Parjointco for all Pargesa shares not already owned by Parjointco under which Pargesa shareholders will be entitled to receive 0.93 shares of GBL for each Pargesa bearer share they hold. Additional details of the proposed transaction are disclosed in the joint announcement available at https://www.pargesa.ch/en/liste...