On May 22, 2014, the Commercial Court of Nanterre approved the takeover bid for the French specialty steelmaker Ascométal submitted by a group of French and European investors led by the French entrepreneur Frank Supplisson, and supported by Guy Dollé, former Arcelor chief executive. The six French sites and almost all jobs (1,820 of nearly 1,900) are accordingly maintained.
The chosen bid includes the raising of a €230 M financing, including a State loan of €35 M via the economic and social development fund (FDES). The French government is also considering the entry of the public investment bank Bpifrance into the capital.
In the aggregate, thirteen candidates filed total or partial takeover bids for the French specialty steelmaker Ascométal.
Ascométal is a former subsidiary of Usinor and is recognized for its expertise in specialized steel products supplied to the automotive, transport (including TGV wheels), and oil and gas industry.
The company has three large plants in France: Dunkerque (Nord), Hagondange (Moselle) and Fos-sur-Mer (Bouches-du-Rhône). The group also has sites in Custines (Meurthe-et-Moselle), Le Marais (Loire) and Le Cheylas (Isère).
The purchasers (Messrs. Frank Supplisson, Guy Dollé, …) were advised by De Pardieu Brocas Maffei which led and coordinated the entire transaction with a team comprising: Philippe Dubois, partner and Pauline Bournoville for the restructuring aspects, Patrick Jaïs, partner, Sampiero Lanfranchi and Marion Lavigne-Delville for the corporate aspects, Florence Dupont-Fargeaud, partner for the labor law aspects, Laure Givry, partner and Sophia El Hariri for the competition law aspects, Alexandre Blestel, partner for the tax law aspects and Christine Le Bihan-Graf, partner and Laure Rosenblieh for the energy-public law aspects.
The financial advisor to the purchasers:Arjil & Associés bank (Michaël Fribourg, partner).
The financial partners of the purchasers: the family group EPI, Ovako, Warvick and DK