Bredin Prat advises OVH in connection with its Share Buyback Offer

Bredin Prat advised OVH, a global player and the leading European cloud provider, in connection with its share buyback offer for €350 million in respect of approximately 20% of its share capital.

The Share Buyback Offer was declared to be compliant by the French financial markets authority, the AMF, in its compliance decision dated 16 December 2024, and the Offer ended on 6 January 2025.

In the context of the Share Buyback Offer, the Klaba family’s shareholding will increase from 68% to 81% of the share capital. TowerBrook Capital Partners and KKR & Co also participated in the Share Buyback Offer.

The Share Buyback Offer and its financing are a part of a broader refinancing of the company.

At its meeting on 23 October 2024, the board of directors of OVH Groupe issued a reasoned opinion in favour of the Share Buyback Offer, based on the report prepared by the independent expert, the firm Accuracy, and on the recommendations of the ad hoc committee. The General Meeting approved the transaction on 4 December 2024.

The Bredin Prat team advising OVH comprised:

• Corporate: Florence Haas and Benjamin Kanovitch (partners), Charles Sahel and Thomas Bernard
• Tax law: Jean-Florent Mandelbaum (partner), Adrien Soumagne and Simon Weber