SIX sold its card business to Worldline in 2018 and is currently one of the largest shareholders with a stake of around 27% in the French group and two directors and a censor on the Worldline Board of Directors.
Today, Worldline announced that it intends to launch a tender offer for the complete takeover of all Ingenico shares. SIX fully supports this planned transaction. Worldline is a highly strategic investment for SIX, which intends to remain a medium to long-term shareholder in Worldline, fully committed to its role on Worldline’s board of directors. Should the combination of Worldline and Ingenico take place, SIX will be entitled to appoint an additional board member, provided that its voting rights in the combined entity is greater than 15% as from closing. SIX would be the major shareholder of the combined group with a stake of approximately 17%, based on its current holding in Worldline. Subject to the decisions of its corporate governance bodies, SIX intends to commit to a new lock-up effective upon closing of the transaction (expected in Q3 2020) until end H1 2021 as evidence of its full support to the contemplated strategic transaction with Ingenico and consistent with its position as medium to long term reference shareholder of the combined group.
Daniel Schmucki, CFO SIX: “SIX fully supports the tender offer for the complete takeover of all Ingenico shares. The planned transaction also shows that the strategic partnership with Worldline that SIX entered in 2018 was without a doubt the right decision. Worldline continues to be a very important strategic investment for SIX.”
Worline's press release