Oberthur has acquired over 97% of XPonCard
A total of 3,851,365 shares, representing 85.8% of the shares and votes in XPonCard, have been tendered in the Offer. As previously announced, Oberthur has also acquired 533,450 shares in XPonCard in the market, representing 11.9% of the shares and votes in XPonCard. All conditions to the Offer have been fulfilled. Oberthur hereby declares the Offer unconditional and completes the Offer. Settlement is expected to commence on or about 16 April 2008. In order to provide shareholders of XPonCard, who have not yet tendered their shares, the opportunity to accept the Offer, Oberthur has decided to extend the acceptance period until 3.00 pm (CET) on 18 April 2008.According to Oberthur, the combination between its activities and the ones of XPonCard creates the second payer in the market, with sales of about EUR 735 million, based on a proforma consolidation with 2007 figures.
XPonCard brings to Oberthur a strong sales, service and personalization infrastructure in Northern Europe (Scandinavia, Finland, the Baltics and Poland) that will complement Oberthur’s Service Bureaus network throughout the rest of Europe. Oberthur also expects to generate significant savings in technology and product costs from the acquisition.