Vantiva: Status update on CommScope’s Home networks acquisition

Press Release    

Status update on CommScope’s Home Networks acquisition

Paris – November 10^th, 2023 – Vantiva (Euronext Paris: VANTI),

On October 3, 2023, Vantiva announced that it had reached an agreement with CommScope to acquire its Home Networks business, in exchange for a 25% stake in Vantiva.
CommScope will reinvest the entire acquisition price in a reserved capital increase giving it the right to a 25% stake in Vantiva (post-capital increase)¹. To this end, the company has today published the draft resolutions in the BALO.

Vantiva points out that, from the parties’ point of view, the value of the transaction lies primarily in the realization of future synergies made possible by the combination of the Home Networks business with Vantiva. The integration of the acquired businesses should lead to additional financing requirements before the benefits of the synergies. As a result, the company plans to meet these new needs notably by extending its existing credit lines to the combined perimeter, and by optimizing the acquired working capital. The company is therefore confident in its ability to meet the liquidity needs resulting from the transaction over the next twelve months.

For the purposes of the transaction, Vantiva and CommScope have assumed a value of 88 million euros for the assets acquired, based mainly on discounted cash flows. This valuation and the exchange ratio will be the subject of a fairness opinion by RSM, acting as an independent expert. This will be made available on the Vantiva website prior to the Annual General Meeting.
The valuation of the acquired assets adopted for the purposes of the transaction results in a unit issue price for Vantiva shares of sixty-five euro cents (€0.65) (including share premium). This valuation should not be used to draw conclusions concerning the evolution of Vantiva’s share price.

###

Warning: Forward Looking Statements

This press release contains certain statements that constitute “forward-looking statements”, including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions or which do not directly relate to historical or current facts. Such forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted, or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Vantiva’s filings with the French Autorité des marchés financiers. 2021 Universal Registration Document (Document d’enregistrement universel) has been filed with the French Autorité des marchés financiers (AMF) on April 26, 2023, under number D-23-0337.

###

About Vantiva

Pushing the Edge

Vantiva shares are admitted to trading on the regulated market of Euronext Paris (VANTI).

Vantiva, formerly known as Technicolor, is headquartered in Paris, France. It is an independent company which is a global technology leader in designing, developing and supplying innovative products and solutions that connect consumers around the world to the content and services they love – whether at home, at work or in other smart spaces. Vantiva has also earned a solid reputation for optimizing supply chain performance by leveraging its decades-long expertise in high-precision manufacturing, logistics, fulfillment and distribution. With operations throughout the Americas, Asia Pacific and EMEA, Vantiva is recognized as a strategic partner by leading firms across various vertical industries, including network service providers, software companies and video game creators for over 25 years. The group’s relationships with the film and entertainment industry goes back over 100 years by providing end-to-end solutions for its clients.

Vantiva is committed to the highest standards of corporate social responsibility and sustainability across all aspects of their operations.

For more information, please visit vantiva.com and follow Vantiva on LinkedIn and Twitter.

Contacts

Vantiva Investor Relations                                        Image 7 for Vantiva – Corporate
investor.relations@vantiva.com                                        vantiva.press@image7.fr

¹ CommScope’ s subscription to the reserved capital increase will be by way of debt set-off.

Attachment

• 2023-11-10 Status update acquisition CommScope-EN