AVEVA Group PLC Update re clearances & expected closing timetable (2847A)
December 27 2017 - 2:00AM
UK Regulatory
TIDMAVV
RNS Number : 2847A
AVEVA Group PLC
27 December 2017
27 December 2017
AVEVA GROUP PLC
Combination of AVEVA and the Schneider Electric industrial
software business: update re clearances and expected timetable to
closing
The Board of AVEVA Group Plc ("AVEVA" or the "Company") provides
the following update on the progress of the proposed Combination of
AVEVA and the Schneider Electric industrial software business.
Defined terms used in this announcement shall have the meaning
given to them in the Prospectus published by the Company on 5
September 2017 (the "Prospectus").
The review procedure of the Committee on Foreign Investments in
the United States ("CFIUS") is still ongoing and has now moved on
to Phase II. Phase II should be no longer than 45 calendar days and
therefore, assuming the full period is required and approval is
granted, clearance is expected to be received on or around 9
February 2018, with Completion of the Combination occurring at the
end of February 2018. AVEVA and Schneider Electric will provide an
update to the extent clearance is received any earlier.
Enquiries:
AVEVA Group plc
Matt Springett, Head of Investor Relations
Tel: 01223 556 655
FTI Consulting LLP
Edward Bridges / Dwight Burden
Tel: 020 3727 1000
IMPORTANT NOTICES:
Lazard & Co., Limited ("Lazard"), which is authorised and
regulated in the UK by the Financial Conduct Authority, is acting
as lead financial adviser to AVEVA and no one else in connection
with the Combination and will not be responsible to anyone other
than AVEVA for providing the protections afforded to clients of
Lazard & Co., Limited nor for providing advice in relation to
the Combination or any other matters referred to in this
announcement. Neither Lazard & Co., Limited nor any of its
affiliates owes or accepts any duty, liability or responsibility
whatsoever (whether direct or indirect, whether in contract, in
tort, under statute or otherwise) to any person who is not a client
of Lazard & Co., Limited in connection with this announcement,
or any the Combination or any statement contained herein.
Numis Securities Limited ("Numis"), which is authorised and
regulated in the UK by the Financial Conduct Authority, is acting
as corporate broker, sponsor and financial adviser to AVEVA and no
one else in connection with the Combination and will not be
responsible to anyone other than AVEVA for providing the
protections afforded to clients of Numis nor for providing advice
in relation to the Combination or any other matters referred to in
this announcement. Neither Numis nor any of its affiliates owes or
accepts any duty, liability or responsibility whatsoever (whether
direct or indirect, whether in contract, in tort, under statute or
otherwise) to any person who is not a client of Numis, in
connection with this announcement, or the Combination or statement
contained herein.
No person has been authorised to give any information or to make
any representations other than those contained in this announcement
and, if given or made, such information or representations must not
be relied on as having been authorised by AVEVA, Lazard and/or
Numis. Subject to the Listing Rules, the Prospectus Rules and the
Disclosure Guidance and Transparency Rules of the Financial Conduct
Authority, the issue of this announcement shall not, in any
circumstances, create any implication that there has been no change
in the affairs of the AVEVA Group or Schneider Electric since the
date of this announcement or that the information in it is correct
as at any subsequent date.
This announcement does not constitute or form part of any offer,
invitation to sell, otherwise dispose of or issue, or any
solicitation of any offer to purchase or subscribe for, any shares
or other securities nor shall it or any part of it, nor the fact of
its distribution form the basis of, or be relied on in connection
with, any contract commitment or investment decision.
This announcement has been prepared for the purpose of complying
with the applicable law and regulation of the United Kingdom and
information disclosed may not be the same as that which would have
been disclosed if this announcement had been prepared in accordance
with the laws and regulations of jurisdictions outside the United
Kingdom.
The distribution of this announcement in jurisdictions other
than the United Kingdom may be affected by the
laws of relevant jurisdictions. Therefore any persons who are
subject to the laws of any jurisdiction other than
the United Kingdom will need to inform themselves about, and
observe any, applicable requirements.
This announcement does not constitute an offer of securities for
sale in the United States or an offer to acquire or exchange
securities in the United States. No offer to acquire securities or
to exchange securities for other securities has been made, or will
be made, directly or indirectly, in or into, or by use of the
mails, any means or instrumentality of interstate or foreign
commerce or any facilities of a national securities exchange of,
the United States or any other country in which such offer may not
be made other than (i) in accordance with the tender offer
requirements under the US Securities Exchange Act of 1934, as
amended, or the securities laws of such other country, as the case
may be, or (ii) pursuant to an available exemption from such
requirements.
Neither the content of AVEVA nor Schneider Electric website, nor
any website accessible by hyperlinks on AVEVA or Schneider Electric
website is incorporated in, or forms part of, this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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