Telekurs to buy Fininfo's financial information ops

Telekurs to buy Fininfo's financial information ops - UPDATE

	Published : Tue, 10 Jul 2007 12:07 By : Agencies Print this Story

(Updates with more details)

PARIS (Thomson Financial) - Swiss financial services group Telekurs Holding SA said it has agreed to buy the financial information activities of France's Fininfo.

The purchase price was not disclosed.

Holding company Financiere Jeulin, representing 52 pct shareholder Gerard Jeulin, will launch a 16.6 eur per share bid for minority shareholdings in Fininfo.

Financiere Jeulin will retain Fininfo's 'knowledge management' operations, grouped within the Altares division, as well as Fininfo's equities services within Ide and Anthium, Telekurs said in a statement.

'This agreement will enable Telekurs to enlarge its products and services portfolio and will strengthen its position in several countries, especially in France and Scandinavia,' it said in a statement.

'The two companies will usefully leverage complementarities, as well for geographic coverage as for offered solutions and services,' the company said.

Financiere Jeulin is a holding company 81 pct owned by the Jeulin family and 19 pct by Amber Fund.

The 16.6 eur proposed share price excludes Fininfo's 0.4 eur per share dividend for 2006 and is a 25 pct premium to Fininfo's average share price over the past six months.

Fininfo shares are suspended today.

Yesterday Fininfo shares closed 0.35 eur or 2.38 pct lower at 14.31 eur, giving the company a market capitalisation of 185 mln eur.

Ide specializes in graphic design and Anthium was a bond-trading company that recently ceased activities.

Last year Fininfo reported net profit of 4.2 mln eur, down from 12.6 mln in 2005 as sales slipped to 137.8 mln eur from 141.2 mln.

Andrew.Newby@thomson.com

an/lam

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Telekurs to buy Fininfo's financial information ops - UPDATE