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For Société Générale, which has been a shareholder of Axway since its spin-off and listing in 2011, this transaction is in line with its policy of divesting its industry-sector holdings. It took place as an over-the-counter block sale at the price of €21.50 per share1 for a total amount of €38.6 million.

Géninfo’s disposal of its entire stake in Axway entails the termination of the action in concert between Géninfo, Sopra Steria Group and Sopra GMT.

Following this transaction, the stake held by the action in concert (Sopra Steria Group, Sopra GMT, the founders and certain managers) will remain unchanged, representing 58.46% of Axway’s share capital (65.62% of the voting rights). Sopra Steria Group’s stake in Axway will grow to 33.52% of the share capital (35.94% of the voting rights). Consequently, Sopra Steria Group will individually exceed Axway’s 30% shareholding and voting rights thresholds, thereby placing itself in a mandatory tender offer situation.

Given this situation, Sopra Steria Group requested and obtained from the Autorité des Marchés Financiers an exemption from the obligation to file a tender offer proposal for Axway’s shares, on the grounds of Article 234-9, 6° of the AMF’s General Regulation