Legrand and Cogelec, a French specialist in access control systems for buildings, have announced Legrand’s acquisition of approximately 60% of Cogelec’s share capital.
This was posted on the Legrand website:
Legrand (Euronext – FR0010307819 – LR) and Cogelec (Euronext Growth – FR0013335742 – ALLEC) announce, following the execution on July 9, 2025 of a put option agreement along with an exclusivity undertaking, and the completion of the information and consultation process with Cogelec’s social and economic committee, the execution on July 31, 2025 of a share purchase agreement between Legrand France, a subsidiary of Legrand, on the one hand, and the managers of the Cogelec group and Raise Investissement, shareholders of Cogelec Développement, on the other hand, for the acquisition of all of the shares of Cogelec Développement, which indirectly holds 5,347,065 Cogelec shares, representing a total of 60.09% of the share capital and 78.39% of the voting rights of Cogelec, based on a price of 29 euros per Cogelec share (ex-dividend 2024).
Cogelec’s social and economic committee unanimously issued a favorable opinion on July 16, 2025.
The acquisition of the controlling stake remains subject to customary conditions precedent, provided that the only regulatory condition will be obtaining approval from the French competition authority.
It is recalled that, should the acquisition be completed, Legrand would launch a mandatory simplified tender offer to acquire the remaining shares of Cogelec at a price of 29 euros per Cogelec share (ex-dividend 2024). In the event that the thresholds allowing it are crossed at the end of the tender offer, Legrand would request the implementation of a squeeze-out procedure under the applicable legal and regulatory conditions in order to acquire the Cogelec shares not acquired under the tender offer.
The acquisition of the majority stake and the filing of the tender offer with the French Financial Markets Authority (Autorité des Marchés Financiers) are expected to take place during the last quarter of 2025.
COGELEC is a French specialist in access control systems for buildings. In 2007, COGELEC created the first global wireless interphone solution, marketed as part of a subscription offer, under the Intratone brand. Based on an indirect distribution model, combined with very close-knit relations with social landlords and building complex management associations, COGELEC now operates in six countries in Europe and the Intratone brand has more than 2.6 million dwellings subscribed. COGELEC is listed on the Euronext Growth Paris, and is part of the Growth AllShare, Tech Croissance and PEA-PME 150 indices.
Tagged with acquisition, Legrand