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Seagate to acquire controlling interest in LaCie

Seagate Technology plc (NASDAQ: STX) the worldwide leader in hard disk drives and storage solutions, and LaCie S.A. (Euronext: LAC), a leading manufacturer of consumer storage products, today announced an exclusive agreement with the intent for Seagate to acquire a controlling interest in LaCie. Seagate has offered to purchase from Philippe Spruch, LaCie’s chairman and CEO, and his affiliate, all of their shares, representing 64.5% of the outstanding shares of LaCie. Following receipt of governmental approvals[1] and the close of this transaction, Seagate would commence an all-cash simplified tender offer (followed as the case may be by a squeeze-out procedure) to acquire the remaining outstanding shares in accordance with the General Regulation of the French Autorité des Marchés Financiers (AMF).

Seagate has offered Mr. Spruch and his affiliate €4.05 per share in cash, minus a potential adjustment depending on the cash and debt position of LaCie at closing. This price may be increased by a possible price supplement of 3% in the event that the threshold of 95% of the shares and voting rights of LaCie would be reached by Seagate within 6 months following closing, resulting in a maximum potential price per LaCie share of €4.17. Without the price supplement, the offer currently values LaCie at an approximate €146 million, or $186 million total equity value, including acquired net cash of approximately €49 million, or $65 million, as of March 31, 2012. The €4.05 per share price represents a premium of 29% to LaCie’s average closing stock price over the 30 trading days ended May 22, 2012.

Ricol Lasteyrie & Associés was appointed today as independent expert by the board of directors of LaCie, to deliver a fairness opinion on the price that would be offered in the context of the tender offer, including in the perspective of a potential squeeze-out procedure.

The transaction would combine two highly complementary product and technology portfolios, adding LaCie’s line of premium branded consumer storage solutions, network-attached storage solutions and software offerings to Seagate’s array of mainstream consumer storage products. The combination would accelerate Seagate’s growth strategy in the expanding consumer storage market, particularly in Europe and Japan, and add strong engineering and software development capabilities, as well as relationships with several key retailers.

The transaction is expected to be neutral to Seagate’s fiscal 2013 earnings per share.

Following the close of the sale of his shares to Seagate, Mr. Spruch would join Seagate and lead the company’s consumer storage products organization. Reporting to him would be Patrick Connolly, who currently serves as vice president and general manager of Seagate’s retail group, as well as Pierre van der Elst, who currently serves as deputy general manager of LaCie. The financial terms of the new position of Mr Spruch are not determined as of today and would therefore be described subsequently, including in the tender offer documentation.

“Seagate has a strong commitment to the growing consumer storage market and bringing the most dynamic products to market. LaCie has built an exceptional consumer brand by delivering exciting and innovative high-end products for many years. This transaction would bring a highly complementary set of capabilities to Seagate, significantly expand our consumer product offerings, add a premium-branded direct-attached storage line, strengthen our network-attached storage business line and enhance our capabilities in software development,” said Steve Luczo, Seagate chairman, president and CEO. “We are also excited that Philippe, who is a true visionary and leader in the consumer storage business, would join Seagate to run our consumer storage products organization.”

“With the proliferation of devices and content being shared and stored today, consumer demand for high-quality branded storage solutions continues to grow,” said Philippe Spruch, LaCie’s chairman and CEO. “We are excited about the potential for this combination to benefit customers and employees by creating significant scale and opening up new markets. We look forward to making the resources of a much larger company available to our customers around the world.”

LaCie will initiate the information and consultation process required by its employee representative council in relation to the contemplated transaction, in accordance with French law. Upon completion of this process, Seagate and Mr. Spruch would execute a definitive share purchase agreement and finalize the purchase of the controlling interest held by Mr. Spruch and his affiliate. This share purchase transaction is expected to close in the third calendar quarter of 2012 pending completion of the relevant governmental reviews. Seagate would then commence a tender offer for the remaining outstanding shares of LaCie (followed as the case may be by a squeeze-out procedure), subject to a clearance decision from the AMF. The tender offer is expected to be completed in the third calendar quarter of 2012.

The transaction is subject to regulatory approval in the United States (antitrust filing), France (approval of foreign investments by the Ministry of Finance) and other jurisdictions (antitrust filing in Germany) and to other customary closing conditions.

Morgan Stanley & Co. LLC served as financial advisor and Allen & Overy LLP served as legal advisor to Seagate in connection with the transaction. De Pardieu Brocas Maffei A.A.R.P.I served as legal advisor to LaCie.


كشفت عن تشكيلة السائقين لموسمها الافتتاحي

2011  :أعلنت ماشدار موتورسبورتس اليوم رسمياً عن انطلاق سلسلة آي ون سوبركار – الحدث الذي طال انتظاره – وذلك على حلبة ياس مارينا في أبو ظبي. وقد كشفت ماشدار  موتورسبورت عن قائمة رائعة من السائقين الذين سيشاركون في هذه السلسلة الافتتاحية لسباقات آي ون سوبركار ومنهم جاك فيلنوف بطل الفورمولا وان عام 1997 ، وسائقي الفورمولا وان لعام 2011 : فيتانتونيو ليزي وكارون جاندهوك، والفائزون السابقون ببطولة الفورمولا وان من أمثال جان كارلو فيسيكيلا ، وهاينز هارلاد فرينتزن، وجان اليزي. وبجانب السائقين الدوليين، تضم القائمة سائقين هنود مثل ارمان ابراهام، وأديتيا باتيل، وبارثيفا سوريسوارن. وكشف دارشان ام، الرئيس التنفيذي لسلسلة السوبر، عن روزنامة السلسلة المعتمدة من قبل الاتحاد الدولي للسيارات، والتي تنطلق أول سباقاتها في سيبانغ في ماليزيا في 22 يناير عام 2012.

وتعليقاً على هذا الحدث، قال دارشان ام، الرئيس التنفيذي لسلسلة السوبركار والذي بدا عليه الحماس واضحاً: “هذه لحظة هامة بالنسبة لنا ونحن تكشف القائمة المشاركة من سائقينا بجانب روزنامة الموسم الافتتاحي. ووفاءً بوعودنا، نكشف عن التشكيلة التي تضم أبطال السباقات الدولية القديرين، ليشكلوا خلطة مع كوكبة السائقين الهنود الشباب. كان السائقون قد خبروا سيارة راديكال إس آر 3، وذلك في حلبة ياس مارينا، وسنعمل معهم عن كثب حتى تظهر السيارة بمظهر أفضل. كما أننا فخورون أيضا بالإعلان عن مشاركة امرأتين في السباق، وسيكونان فريقاً واحداً. وبتأكيد انطلاق أول سباق في 22 يناير في ماليزيا ، يكون العد التنازلي قد بدأ الآن “.

ستكون هناك مجموعة سائقين تضم 27 سائقاً، مع اختيار 18 سائقا للمشاركة في كل سباق في نهاية الأسبوع، على أن تقوم الفرق نفسها باختيار السائقين لهذا السباق. كما كشفت سلسلة آي ون عن وجود  تشكيلة نسوية في السباق مع كل من بيبا مان و سيندي – سائقي سيارة إندي كار. كما تأكدت مشاركة سائقين آخرين من ضمنهم سائقي الفورمولا وان من أمثال ساكون ياماموتو ، واليكس يونغ ، والسائق جيل نانياند -سائق استعراض ريد بول، وميكا سالو  – السائق السابق لفيراري وساوبر.


روزنامة سلسلة آي ون سوبركار

21-22 يناير – سيبانغ ، ماليزيا

 3-4 فبراير – صخير ، البحرين

10-11 فبراير – لوسيل ، قطر

25-26 فبراير  – بي آي سي ، الهند

9-10 مارس – ياس مارينا ، أبو ظبي ، الإمارات العربية المتحدة


السائقون الدوليون

جاك فيلنوف

جيانكارلو فيسيكيلا

فيتانتونيو ليزي

كارون جاندهوك

جان اليزي

وهاينز هارلاد فرينتزن

اليكس يونغ

ساكون ياماموتو

ميكا سالو

بيبا مان


سباق الهند الدولي

نيل جاني

ارمان ابراهام

بارثيفا سوريسوارن

زامين جافير

ماتياس لاودا

أديتيا باتل

اخيل خوشلاني

فيروز بيلموريا

سيندي اليمان


السائقون الهنود

جوراف دلال

اشوين سوندار

فيشنو براساد

جيراج مالهوترا

عبد الأحمد

راج بهاراث

اميا والافالكار

ساهيل شيلر

امريتاجيت غوش

ساليش بوليسيتي

i1 Supercar Series unveils Driver Line-Up for Inaugural Season

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Machdar Motorsports today officially launched the much anticipated i1 Supercar Series at Yas Marina Circuit in Abu Dhabi by unveiling an impressive list of drivers who will participate in the series. Drivers in the inaugural i1 Supercar Series will include 1997 Formula One Champion Jacques Villeneuve, 2011 Formula One drivers Vitantonio Liuzzi and Karun Chandhok, and former F1 race winners Giancarlo Fisichella, Heinz-Harald Frentzen and Jean Alesi. Apart from the international drivers, the Indian drivers include Armaan Ebrahim, Aditya Patel and Parthiva Sureswaren.  Darshan M, CEO, i1 Super Series also announced the FIA approved calendar for the series with the first race to be held in Sepang, Malaysia on January 22, 2012.  

A visibly excited Darshan M, CEO, i1 Super Series said: “This is a big moment for us as we confirm our drivers and calendar for the inaugural season. As promised we have a fantastic line-up of proven international race winners mixed with young Indian drivers. The drivers had their experience of the Radical SR3 today at the Yas Marina Circuit and we will work closely with them to make the car even better. We are also proud to announce that we will have two women on the grid who will comprise one team. With the first race being confirmed for January 22 in Malaysia, the countdown starts now.”   

There will be a driver pool of 27 drivers with 18 drivers being chosen for each race weekend. The drivers for each race weekend will be chosen by the teams themselves. The i1 Supercar Series announced the women line-up on the grid with Indycar driver Pippa Mann and Cyndie. Other drivers confirmed for the series include former F1 drivers Sakon Yamamoto, Alex Yoong, Red Bull demo driver Neel Jani and former Ferrari and Sauber driver Mika Salo.

i1 Supercar Series Calendar:

January 21/22 – Sepang, Malaysia,

February 3/4 – Sakhir, Bahrain,

February 10/11 – Losail, Qatar,

February 25/26 – Buddh International Circuit (BIC), India

March 9/10 – Yas Marina, Abu Dhabi, UAE

 International Drivers

Jacques Villeneuve

Giancarlo Fisichella

Vitantonio Liuzzi

Karun Chandhok

Jean Alesi

Heinz-Harald Frentzen

Alex Yoong

Sakon Yamamoto

Mika Salo

Pippa Mann

 Indian and International drivers

Neel Jani

Armaan Ebrahim

Parthiva Sureswaren

Zaamin Jaffer

Mathias Lauda

Aditya Patel

Akhil Khushlani

Phiroze Billmoria

Cyndie Allemann

 Indian drivers

Gaurav Dalal

Ashwin Sundar

Vishnu Prasad

Chirag Malhotra

Abdul Ahmed

Raj Bharath

Ameya Walavalkar

Sahil Shealr

Amritajit Ghosh

Sailesh Bolisetti