Bredin Prat advises DBAY Advisors and SQLI in connection with a simplified public tender offer for SQLI’s shares

Bredin Prat is advising DBAY Advisors and SQLI in connection with a simplified public tender offer for the shares of SQLI, a European digital services group.

DBAY Advisors, the reference shareholder of SQLI since 2019 and which currently owns more than 83% of the share capital, has filed a simplified public tender offer for all the remaining SQLI shares, followed, if the results of the Offer so permit, by implementation of a squeeze-out.

SQLI’s board of directors has approved the principle of the Offer, subject to its official reasoned opinion to be issued in light of the report of the independent expert, the audit and advisory firm Crowe HAF, appointed for the purposes of the Offer.

SQLI’s two main institutional investors have already undertaken to transfer their shares to the Offeror.

The public tender offer could be finalised by the end of 2024.

The Bredin Prat team advising DBAY Advisors and SQLI comprised:

• Corporate: Jean-Benoît Demaret (partner), Charles Sahel
• Financing: Karine Sultan (partner), Camille Védrenne, Julie Jacquemoud, Floriane Danckof
• Tax law: Jean-Florent Mandelbaum (partner), Kevin Guillou
• Employment law: Laetitia Tombarello (partner), Emilie Iafrate