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Proposed acquisition of Kerneos by Imerys

Astorg has received a firm offer from Imerys for the acquisition of the entire capital of Kerneos. On the basis of this offer, Astorg decided to enter into exclusive negotiations with Imerys in order to finalize the terms of a possible transaction.

This project to change shareholder will shortly be submitted to the Central Works Council of Kerneos for information and consultation. The definitive change can only take place after obtaining the necessary regulatory approvals, in particular with regard to competition law.

After more than 15 years of financial shareholders, first within Materis and then as an autonomous company with Astorg, this project would allow Kerneos to anchor its future development within a powerful industrial group, leader in creating value through industrial minerals for specialty applications.

Imerys and Kerneos share similar business models based on the control of their upstream supply sources, a global geographic footprint in both mature and emerging countries, and a positioning of specialty players serving industrial customers.

This combination would bring new business opportunities and product innovations. The development strategy through external and organic growth would be reinforced with the support of the Imerys Group's resources.

Moreover, this project would offer the Kerneos teams new career opportunities. This mobility would be facilitated by sharing a common culture of operational excellence, health and safety policies, quality and sustainable development.

If this project succeeds Imerys have committed, to preserve the integrity of Kerneos.

Imerys has expressed full confidence in Kerneos' management team.

If this project were to succeed, the Executive management of Kerneos would therefore support this operation, based on a long-term project inside an industrial group.