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ECRITEL.NET becomes EAE, Euro Asian Equities

Exit of minority shareholders of the ECRITEL.NET Company by means of an LBO (leveraged buy-out) with the support of BNP Développement and ALTO Invest.

Press Release - Paris, december the 14th 2007

The Ecritel.net group announces that Euro Asian Equities (EAE), the majority shareholder of Ecritel.net, has bought back the shares held by some minorities by means of Leverage Buy Out (LBO) and received as a contribution those of the other minorities. This operation was carried out with the support of BNP DEVELOPPEMENT and ALTO INVEST to the sum of 1.6 M€.

The senior debt is contributed by SOCIETE GENERALE, HSBC UBP, and BNP PARIBAS. Euro Asian Equities was advised by Atout Capital. The legal structuring was carried out by Maître Luc JEANNIN, a barrister at the Paris Bar.
Ecritel.net is a group specialising, under separate trade names, in two poles of activities:

  • the managed hosting of Internet services, with ECRITEL, now the French number one in this activity, and IGTECH, a specialist in Internet security,
  • advice and integration in on-line communication and marketing with CHURCHILL in Paris and with AIQI in Shanghai.

With the evolution of its shareholding structure, the group is changing its name, taking the initials of its new holding, EAE.

The client base of the EAE Group is primarily composed of key accounts and public agencies such as the Economic and Social Council, The French Post Office, Manpower and Saint-Gobain.