Legrand to Acquire Majority Stake in Cogelec

Legrand and Cogelec Développement's shareholders have signed an agreement for Legrand to acquire a majority stake in Cogelec, a French company specializing in access control systems. This follows a put option agreement executed on July 9, 2025, and a favorable opinion from Cogelec's social and economic committee on July 16.

The acquisition involves Legrand France purchasing all shares of Cogelec Développement, indirectly holding significant shares and voting rights in Cogelec. Each Cogelec share is valued at 29 euros. The transaction remains subject to obtaining approval from the French competition authority.

If completed, Legrand plans a mandatory tender offer for remaining shares at the same price, possibly leading to a squeeze-out procedure. The acquisition and tender offer filing are expected in late 2025.