Acquisition Accomplishment — Dassault Aviation + Thales

The French government and Dassault Aviation have signed an agreement paving the way for Dassault Aviation to acquire Alcatel-Lucent’s stake in Thales, joining the French government as core shareholder in Thales.

The agreement follows authorization by the French Ministry of the Economy, Industry and Employment and a ruling by French stock market authority AMF that the operation does not require Dassault Aviation to launch a mandatory takeover bid. Relations between the French government and Dassault Aviation will be governed by a shareholders’ agreement virtually identical to the current agreement between the French government and Alcatel-Lucent, under which the French government maintains a dominant position in relation to Dassault Aviation. All of Alcatel-Lucent’s commitments with regards to preserving the French government’s strategic interests in Thales will also be guaranteed by Dassault Aviation. Following this transaction, and once Dassault Aviation has acquired the 5.1 percent stake in Thales currently held by Groupe Industriel Marcel Dassault, the “public sector” and Dassault Aviation will together control 53 percent of the capital and 61 percent of the voting rights in Thales. This will give Thales a stable shareholding base, anchored in a long-term vision. Strengthening the partnership between Thales and Dassault Aviation will create a world-class French center of excellence in strategic technologies, aerospace, defense and security, mirroring entitles formed by the United Kingdom, Italy and Sweden around core companies.