Pizzorno Environnement Board Unanimously Recommends Paprec Acquisition Offer

Key Facts

1Pizzorno Environnement's board unanimously recommended Paprec Group's tender offer at €62.50 per share.

2An independent expert deemed the offer price fair, representing a 10.2% premium over discounted cash flow value.

3The offer targets 991,088 shares, representing 24.78% of the company's capital.

Pizzorno Environnement's board of directors unanimously recommended the acceptance of Paprec Group's tender offer at €62.50 per share. Idéal Investisseur reported that the offer targets 991,088 shares, representing 24.78% of the company's capital. The recommendation follows a fairness opinion from an independent expert who deemed the offer price equitable for minority shareholders.

The proposed offer price represents a 10.2% premium over the discounted cash flow value of €56.70 and is 19.2% higher than the valuation derived from the comparable listed companies method. According to the independent expert, the Pizzorno Environnement order book stood at €1.0 billion as of September 10, 2026, which is already factored into the business plan despite showing a decline from levels reported in May 2026.