Zydus Lifesciences (“Zydus”) and Amplitude Surgical SA (“Amplitude”) have confirmed that the mandatory information and consultation process with the works council of Amplitude SAS has been completed. Following this, Zydus has signed the share purchase agreement to acquire 75.4 per cent of the share capital of Amplitude at a price of €6.25 per share from PAI Partners, Olivier Jallabert, and other managers of Amplitude. This acquisition, along with the two share purchase agreements signed on March 11, 2025, with two minority shareholders, totals 85.6 per cent of Amplitude’s share capital. The combined transactions are referred to as the “Block Acquisition”.
As outlined in the joint announcement on March 11, 2025, the completion of the Block Acquisition is subject to the usual closing conditions, which include obtaining approval from the French Minister of Economy under the control of foreign investments in France. Other conditions include the reinvestment of Amplitude CEO Olivier Jallabert into the company and the absence of any qualified material adverse events.
Subject to the fulfilment of these closing conditions, Zydus is set to acquire 85.6 per cent of the share capital of Amplitude. The completion of the Block Acquisition is now expected by Q3 2025.
Following this, Zydus will file its mandatory simplified tender offer with the Autorité des Marchés Financiers (“AMF”). If the conditions are met, a squeeze-out procedure will follow. On April 17, 2025, it was announced that commitments to tender 4.7 per cent of Amplitude’s share capital had been secured with other minority shareholders. As a result, and assuming the fulfilment of the conditions, Zydus will acquire over 90 per cent of Amplitude’s capital and voting rights at the conclusion of the tender offer, enabling the implementation of the squeeze-out procedure.
This acquisition marks a significant step in Zydus Lifesciences’ strategic expansion, which is expected to be completed by Q3 2025.