Mubadala Capital and Pierre et Vacances Sign Tender Offer Agreement

Mubadala Capital and Pierre et Vacances Sign Tender Offer Agreement

Tender Commitments Secured From Shareholders Representing 80% of the Outstanding Share Capital

- Mubadala Capital (“MC”), through a special purpose vehicle controlled by MC, and Pierre et Vacances (the “Company”) have entered into a Tender Offer Agreement which sets the terms and conditions of the proposed acquisition by MC of all of the Company’s outstanding securities through an all-cash voluntary tender offer (the “Offer”).

- MC has secured commitments to tender to the Offer from existing shareholders representing 80.13% of the Company’s outstanding share capital.1

- The Company’s Board of Directors unanimously favorably welcomed the Offer and, pending the issuance of its reasoned opinion (avis motivé) in accordance with Article 231-19 of the AMF General Regulation and subject to further examination based on the fairness opinion and works councils opinions, determined that the transaction is in the interest of the Company, its shareholders, employees and other stakeholders.