Leisure & Mobility Infrastructures made an pffer to acquire remaining 2.18% stake in Montagne et Neige Développement SA (ENXTPA:ALMND) for ?1.4 million on May 29, 2024. A cash consideration valued at ?0.9 per share will be paid by Leisure & Mobility Infrastructures. Upon completion, Leisure & Mobility Infrastructures will own 100% stake in Montagne et Neige Développement SA. Based on the recommendations of the Ad Hoc Committee set up by the Board of Directors of MND on March 28, 2024, and the work of BM&A, appointed as an independent expert on April 3, 2024, which concluded that the Offer was fair from a financial point of view for the minority shareholders of MND, the Board of Directors of MND, at its meeting on May 29, 2024, declared the Offer and its consequences to be in line with the interests of the Company, its shareholders and its employees and recommended that the Company's shareholders tender their shares to the Offer. The Offer will be followed by a squeeze-out procedure for MND shares on the Euronext Growth® market in Paris, the conditions having already been met. In the context of the squeeze-out, the MND shares that have not been tendered to the buy-out offer will be transferred to the Offeror in exchange for a cash compensation equal to the Offer price, i.e. ?0.90 per share. The Offer, entirely financed by L&M Infra, would allow MND to simplify its capital structure by acquiring the remaining shares not held by L&M Infra. It also aims to reduce listing costs and simplify the operational functioning of MND. The offer period will close on June 28, 2024.

Jean-Marc Franceschi and Pierre-Marie Boya of Hogan Lovells acted as legal advisor to L&M Infra in connection with the proposed public buyout offer for MND shares.