[August 22, 2011] Bigben Interactive to acquire ModeLabs Group Tweet Aug 22, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Update on August 12, 2011: Bigben Interactive SA, engaged in the design, manufacture and distribution of videogame software, as well as videogame console accessories, has announced the preliminary results of its tender offer to acquire 100% of the share capital of ModeLabs Group SA, a designer and distributor of mobile telephone handsets and accessories. Both the companies are based in France. Bigben Interactive acquired 13,906,830 ModeLabs shares through the main mixed offer (share exchange and cash) and 6,900,000 ModeLabs shares through the alternative purchase offer in cash. Bigben Interactive now holds 20,806,830 shares representing 90.97 % of the share capital and of the voting rights of ModeLabs, based on a share capital totalling 22,871,155 shares representing the same quantity of voting rights. Announcement (May 20, 2011): Bigben Interactive has signed an agreement to acquire 100% of the share capital of ModeLabs. Under the terms of the transaction, Bigben proposes to acquire all shares of the capital of ModeLabs offering two Bigben shares and EUR9.30 for seven ModeLabs shares and the second part offering EUR4.40 per share for a maximum of 5,850,000 ModeLabs shares. The transaction is valued at $126 million. Bigben has received a commitment from ModeLabs major shareholders to subscribe to the offer, corresponding to more than 46% of ModeLabs capital. Bryan, Garnier & Co. is acting as financial advisor, while Latham & Watkins LLP is acting as legal advisor to ModeLabs. Genesta Finance is acting as financial advisor, while Alerion is acting as legal advisor to Bigben Interactive. Deal Value (US$ Million) 126 Deal Type Acquisition Sub-Category 100% Acquisition Deal Status Announced: 2011-05-20 Deal Participants Target (Company) Modelabs Group Acquirer (Company) Bigben Interactive Deal Rationale [ Back To TMCnet.com's Homepage ]