Notified on 20 June 2005, this merger consists of the acquisition by LBO France Gestion, S.A.S. ("LBO France"), through the vehicle company Actaris Metering Systems II, S.A. ("Actaris Metering Systems II"), of sole control of 12 enterprises at present held directly by Actaris Metering Systems, S.A. ("Actaris Metering Systems"), by means of the acquisition of shares.