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Need a new registration confirmation email? Click here Increases Its Stake In Meetic SA From 80.8% To 87.5% And Announces Planned Public Offer For All Outstanding Shares

NEW YORK, Sept. 25, 2013 /PRNewswire/ -- Match, the world's leading personals company and an operating segment of IAC (Nasdaq: IACI), announced today that it has increased its ownership stake in Meetic S.A. to 87.5% by acquiring all remaining shares held by Marc Simoncini, Meetic's founder, which represent 6.7% of the capital.

The acquisition was completed today through an off-market transaction with Jaina Capital and Jaina Ventures, two investment vehicles controlled by Mr. Simoncini at a price per share of €18.75.  The aggregate purchase price was approximately €29.5 million.  Following the acquisition, Match now owns 87.5% of the capital and 88.6% of the voting rights of Meetic.  Mr. Simoncini, who no longer owns, directly or indirectly, any Meetic shares, has resigned from Meetic's board of directors.

Match intends to launch a voluntary simplified public tender offer for all of the outstanding shares of Meetic S.A. at a price of €18.75 per share in cash in the near term. The offer price represents a premium of approximately 51% on the closing price of Meetic shares on September 24, 2013.  It is Match's intention to implement a squeeze-out if it holds at least 95% of the capital and voting rights upon completion of the offer. If a squeeze-out cannot be implemented, Match intends to apply with Euronext Paris for a delisting of the Meetic shares.

The public offer will be filed with the French Securities Regulator ( Autorite des marches financiers) in due course. 

"As the founder of Meetic, Marc has made invaluable contributions to the company," said Greg Blatt, CEO of IAC.  "We appreciate what a great partner he has been since we first joined with Meetic in 2009, and are looking forward to our next stage of stewardship of the company."

Meetic is a French stock corporation, with its registered office in Paris.  It is the leader in the European online dating market currently established in 15 European countries, and is available in 11 languages. In 2012, Meetic posted sales of €164,8m and an EBITDA margin of 22.3%.  Meetic is listed in Compartment B of Euronext Paris of the NYSE Euronext (MEET.PA).  

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