Announcement by Pargesa Holding SA
Readers are referred to the section entitled "Forward-Looking Statements" at the end of this release.
MONTREAL, April 7, 2014 /CNW Telbec/ - The press release accompanying this news release was issued by Pargesa Holding SA earlier today.
Power Financial Corporation, through its wholly owned subsidiary, Power Financial Europe B.V., and the Frère group of Belgium each hold a 50% interest in Parjointco N.V., which holds a 55.6% equity interest in Pargesa Holding SA.
ABOUT POWER FINANCIAL
Power Financial Corporation (TSX: PWF) is a diversified management and holding company that has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States and Europe. It also has substantial holdings in a diversified industrial group based in Europe. Power Financial Corporation is a member of the Power Corporation Group of Companies. To learn more, visit www.powerfinancial.com.
Certain statements in this News Release, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the Corporation's current expectations, or with respect to disclosure regarding the Corporation's public subsidiaries, reflect such subsidiaries' disclosed current expectations. Forward-looking statements are provided for the purposes of assisting the reader in understanding the Corporation's financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future and the reader is cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of the Corporation and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could".
By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Corporation's and its subsidiaries' control, affect the operations, performance and results of the Corporation and its subsidiaries and their businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, management of market liquidity and funding risks, changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates), the effect of applying future accounting changes, business competition, operational and reputational risks, technological change, changes in government regulation and legislation, changes in tax laws, unexpected judicial or regulatory proceedings, catastrophic events, the Corporation's and its subsidiaries' ability to complete strategic transactions, integrate acquisitions and implement other growth strategies, and the Corporation's and its subsidiaries' success in anticipating and managing the foregoing factors.
The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including that the list of factors in the previous paragraph, collectively, are not expected to have a material impact on the Corporation and its subsidiaries. While the Corporation considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.
Other than as specifically required by applicable Canadian law, the Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
Additional information about the risks and uncertainties of the Corporation's business and material factors or assumptions on which information contained in forward-looking statements is based is provided in its disclosure materials, including its most recent Management's Discussion and Analysis and Annual Information Form, filed with the securities regulatory authorities in Canada and available at www.sedar.com.
Pargesa Holding SA - Press release No 5/2014
Geneva, 7 April 2014
GBL supports the merger between Lafarge and Holcim
GBL published today the following press release:
«Groupe Bruxelles Lambert (GBL) approves the merger proposal between Lafarge and Holcim whose main terms were announced today (www.lafarge.com).
The new group, the global leader in the construction materials industry, will benefit from a platform of growth of unrivalled quality and considerable value creation potential.
GBL, the largest shareholder of Lafarge with a stake of 21%, supports this merger and will contribute all its Lafarge shares to the exchange offer which will be launched by Holcim after receipt of all regulatory approvals.
Upon completion of the transaction, GBL, whose Lafarge holding represents a market value of EUR 3.9 billion or 24% of its adjusted net assets based on the closing stock price of 4 April 2014, would hold approximately 10% in the new entity. The financial and accounting impacts resulting from this transaction will be determined as the transaction evolves.»
Pargesa holds 50.0% of GBL's capital and controls 52.0% of its voting rights.
SOURCE POWER FINANCIAL CORPORATIONFor further information:
Mr. Stéphane Lemay
General Counsel and Secretary