ALT Altran Technologies S.A.

Etude de l'AG du 26/01/2018

La présente assemblée générale a pour but de soumettre à l'approbation des actionnaires une augmentation de capital portant sur 853% du capital social actuel, mais 30,5%  en terme de capitalisation. En effet, Altran Technologies a réalisé en novembre dernier l'acquisition d'Aricent, une société américaine, pour un montant de 1,7 Mds€. Cette augmentation de capital a pour objet de rembourser une partie du prêt effectué à cette occasion.

L'opération se révèle assez onéreuse au regard des résultats comparés des deux sociétés. Toutefois, elle semble justifiée d'un point de vue stratégique et ne suscite pas d'inquiétude particulière en terme de gouvernance.  Par ailleurs, l'opération est effectuée avec le maintien du droit préférentiel de souscription, ce qui protège les actionnaires minoritaires. Nous recommandons donc l'approbation de l'opération.

12/01/2018
11 pages
FR

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Underlying

Technology - France

Altran Technologies SA is a France-based company engaged in advanced engineering consulting and innovation consultancy. The Company's business is structured around three areas of consultancy: Technology Research and Development (R&D); Organization and Information Systems Consulting; and Strategy and Management Consulting. It assists clients during the strategic planning stages of new technologies and offer support throughout the production phase of the products and services. The Company operates worldwide, providing services in various market sectors, such as aerospace, defense, telecommunications, media, automotive, infrastructure, energy, nuclear, financial services and healthcare. Its various solutions include Intelligent Systems, Lifecycle Experience, Information Systems and Mechanical Engineering. It operates through SWELL, Synapse, Lohika, Foliage, Benteler Engineering, Concept Tech GmbH, IRM Security, Ingegneria dei Sistemi, Aricent and Global Edge Software Ltd, among others.

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