BIC Group - Press Release
Clichy - 04 July 2014
Cello Pens: closing of the put option
BIC stake increased to 75%
BIC Group today announces that it has completed the purchase of shares to increase its stake from 55% to 75% in Cello Pens 7 entities for 4.3 billion Indian rupees (app. 53 million euros[1]).
The shareholders agreement of 21 January 2009 provides further call and put options:
· BIC has a call option on 15% of the share capital, allowing its stake to reach 90% by 2016,
· Cello Group has two put options allowing BIC to reach 100% by 2016:
o on 25% of the share capital,
o or on 10% if BIC exercises its 15% call option.
The price of these options is based on a formula tied to earnings.
Cello Pens has been fully consolidated since October 2013 within the BIC Group and contributed 18.1 million euros in BIC full year 2013 net sales. If Cello Pens had been fully consolidated for the entire year 2013, its contribution would have been around 81 million euros in net sales with a Normalized IFO margin of 23%.
This document contains forward-looking statements. Although BIC believes its expectations are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. A description of the risks borne by BIC appears in the section, "Risk factors" in BIC's 2013 Registration Document filed with the French financial markets authority (AMF) on 26 March 2014.
Contact
| Investor Relations: +33 1 45 19 52 26 | Press: +33 1 53 70 74 21 |
| Sophie Palliez-Capian sophie.palliez@bicworld.com | Priscille Reneaume preneaume@image7.fr |
| Katy Bettach-Montecatine katy.bettach@bicworld.com | Isabelle de Segonzac isegonzac@image7.fr |
For more information, please consult the corporate web site: www.bicworld.com
2014 Agenda (all dates to be confirmed)
| 2nd Quarter and 1st Half 2014 results | 31 July 2014 | Conference call |
| 3rd Quarter 2014 results | 22 October 2014 | Conference call |
About BIC
BIC is a world leader in stationery, lighters, shavers and promotional products. For more than 60 years, BIC has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands in the world. BIC products are sold in more than 160 countries around the world. In 2013, BIC recorded net sales of 1,898.7 million euros. The Company is listed on "Euronext Paris" and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part of the following SRI indexes: FTSE4Good Europe, ASPI Eurozone, Ethibel Excellence Europe, Gaia Index and Stoxx Global ESG Index.
