Seagate and LaCie Announce Signature of Binding Share Purchase Agreement

[btarunr]

Following their press release issued on May 23, 2012 announcing exclusive negotiations and the receipt on June 8, 2012 of the opinion of the employee representative body of LaCie S.A., Seagate Technology plc and LaCie announced today that Seagate, Philippe Spruch, LaCie’s chairman and CEO, and his affiliate, have entered into a binding share purchase agreement to purchase all of the shares of Philippe Spruch and his affiliate, representing 64.5% of the outstanding shares of LaCie for a provisional price of €4.05 per share (as may be adjusted downwards depending on the cash and debt position of LaCie at closing).

As previously announced, Ricol Lasteyrie & Associés have been appointed as independent expert by the Board of Directors of LaCie on June 23, 2012. The transaction has already received clearance from the US Antitrust Authorities but remains subject to regulatory approval in France (approval of foreign investments by the Ministry of Finance) and Germany (antitrust filing) and to other customary closing conditions.

Following the acquisition of the control of LaCie, Seagate will file an all-cash simplified tender offer on the remaining LaCie shares at a price of €4.05 (as potentially adjusted downwards as set forth above). This price shall be increased by 3% in the event that a squeeze-out procedure is implemented (as a result of the acquisition of 95% of the shares and voting rights), resulting in a maximum potential price per LaCie share of €4.17.