Paris, November, 13th 2012 – Bryan, Garnier & Co, the independent pan-European investment bank specializing in European growth companies, announces that it acted as a sole advisor of Bouygues Telecom, a major French mobile phone operator on the sale of its subsidiary, Extenso Telecom to Innov8 group for an undisclosed amount.
This transaction enables Extenso Telecom to ensure its development projects by leaning on a strategic partner that specializes in complementary businesses to its current activities.
Extenso Telecom is one of the leading wholesaler in telecommunication products and services in the French market.
The group reached revenues close to €292m in 2011. It has developed a network of over 240 franchised stores under the brand Phonéo and commercializes offers from different operators with 2,700 outlets.
By acquiring Extenso Telecom, Innov8 Group wishes to diversify the company's business by developing the commercialization of new categories of telecommunications products.
Stéphane Bohbot, chairman of Innov8 stated: “Extenso Telecom is a leading player in the French market, with an efficient organization and able to adapt to a market in turmoil. We need to innovate in order to reinvent the distribution business. The mobile phone is by far the largest consumer market in the world and more particularly with the growing popularity of smartphones. This opens great opportunities of development and value creation.”
Extenso Telecom will continue to offer operator’s products and services including Bouygues Telecom’s until 31 December 2014, while developing new businesses as diversification growth drivers for the company.
Richard Viel, deputy CEO of Bouygues Telecom stated: “In the fast changing environment facing telecom operators in France, we wanted for Extenso Telecom to benefit from the backing of a real entrepreneurial project that complements and strengthens its existing operations. This is the case for the Innov8 group.”
"This transaction confirms our position as a leading investment bank on telecommunication products and services distribution sector as well as our ability to make this type of transaction in a highly volatile market and changing conditions with tight schedules," commented Thibaut De Smedt, Partner at Bryan, Garnier & Co and in charge of the transaction.
List of participants :
Selling company: Bouygues Telecom (Richard Viel, Christian Lecoq, Nadine Sigonnez)
Financial Advisor: Bryan, Garnier & Co (Thibaut de Smedt, Tarik Saadallah)
Innov8: (Stéphane Bohbot, Françoise Grand)
Legal Advisor: Latham & Watkins (Olivier du Mottay)
About Extenso Telecom (www.extenso-telecom.com)
Extenso Telecom is a telecommunications and products services wholesaler.
Extenso Telecom has developed a network of more than 240 franchised stores under the Phonéo brand name and commercialized offers from different operators with 2,700 outlets.
About Bouygues Telecom (www.bouyguestelecom.fr)
Bouygues Telecom is a major French mobile phone operator, Internet service provider and IPTV company, part of Bouygues group since 1994.
The operator counts today more than 11 million mobile subscribers and has realized a €5.7bn turnover in 2011.
About Bryan, Garnier & Co (www.bryangarnier.com)
Bryan, Garnier & Co is an independent investment bank specialising in European Healthcare, TMT and Renewable Energies growth companies. Bryan, Garnier & Co is positioned on three activities: Equity Research & Brokerage, Asset Management and Corporate Finance.
With more than 150 professionals Bryan, Garnier & Co has for over ten years offered the range of services and expertise of top-tier investment banks, yet has the level of attention to clients of a boutique outfit.
The Corporate Finance department of Bryan, Garnier & Co advises European privately or publicly-owned companies, entrepreneurs and financial investors in the following transactions:
- Equity Capital Markets
- Mergers & Acquisitions
- Private Placements
Bryan, Garnier & Co. is authorised and regulated by the Financial Services Authority (FSA) in the United Kingdom, and is member of London Stock Exchange and Euronext, Alternext Listing Sponsor, and is active on all European Capital Markets.
The company design and distribute luxury handhelds accessories (Tag Heuer, Versace and Dior) to third parties in more than 50 countries and distribute mobile phone and accessories through own stores, specialized, franchisees or affiliates.