Clifford Chance advises THEON on the contemplated acquisition of a 9.8% stake in Exosens

Theon International Plc (THEON) has entered into a definitive agreement with HLD Europe SCA, Invest Prince Henri SCA and Invest Gamma Sarl, investment companies belonging to Groupe HLD, to purchase a 9.8% stake in Exosens SA (EXOSENS) for a cash consideration of €268.7 million.

EXOSENS is a leading French company specializing in advanced electro-optical technologies, including light amplification, detection and imaging systems. Following the completion of the transaction, THEON will become the second largest shareholder in EXOSENS, after Groupe HLD.

The closing of the transaction remains subject to regulatory notifications in a selected number of countries, and is expected to take place in early Q1 2026.

The Clifford Chance corporate team was composed in Paris of Gilles Lebreton and Aline Cardin, partners, and Katerina Drakoularakou, counsel, as well as in Frankfurt of George Hacket, partner, and Andrei Manea, counsel.

David Tayar, partner, Hendrik Coppoolse and Marlen Pezzetta, associates, also advised on the antitrust and FDI aspects.