Report
Anaïs Dudout
EUR 1017.86 Purchase single report

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.

Underlying
Altran Technologies S.A.

Altran Technologies is a global player in the advanced engineering and innovation consultancy market, operating in more than 20 countries, particularly in Europe, Asia and North America. Co. advises and accompanies clients in creating and developing new products and services, intervening during the strategic planning stages of new technologies and offering products support and services throughout all developmental phases. Co. offers its consulting services as technical backing, project support and end-to-end services, providing deliveries of customized products. Co. operates in two segments: Innovation and Advanced Engineering Consulting and Organization and Information Systems Consulting.

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

Proxinvest main services are :

  • ​Proxy reports
  • Definition and monitoring of client customized voting guidelines
  • Corporate Governance Data and Rating
  • Thematic research
  • Engagement support

Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.

Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.

As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

Analysts
Anaïs Dudout

Other Reports on these Companies
Other Reports from Proxinvest
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch