Intertrust and CVC have entered into exclusive discussions in relation to a potential public cash offer of EUR 18.00 per share
12 November 2021 - 07:15AM
Intertrust and CVC have entered into exclusive discussions in
relation to a potential public cash offer of EUR 18.00 per share
Amsterdam, the Netherlands – 12 November 2021 –
Intertust N.V. (“Intertrust” or “the Company”) [Euronext: INTER], a
global leader in providing tech-enabled fund and corporate
solutions, and funds advised by CVC Capital Partners (“CVC”) have
agreed to enter into exclusive discussions for a limited period of
time, subject to customary conditions, in relation to a potential
voluntary public offer by a company controlled by investment funds
advised by CVC for all issued and outstanding shares of Intertrust
at an indicative offer price of EUR 18.00 in cash per share (cum
dividend) to be paid on completion (the "Proposed Transaction"). As
part of the Proposed Transaction, Intertrust and CVC are
contemplating a strategic combination of Intertrust and TMF Group
B.V., a leading multinational professional services business.
In accordance with their fiduciary duties, the Management Board
and the Supervisory Board of Intertrust are, together with their
financial and legal advisors, in the process of carefully reviewing
and evaluating all aspects of the Proposed Transaction. In doing
so, the Boards will take into account the interests of Intertrust
and all its stakeholders, including its shareholders, employees and
clients.
Considering these exclusive discussions, the Management Board
and the Supervisory Board of Intertrust have decided to cancel the
Capital Markets Day scheduled for 23 November 2021.
The Company underlines that the outcome of the discussions
regarding the Proposed Transaction is uncertain and that there can
be no assurance that a transaction will materialize from these
discussions.Further announcements will be made if and when
appropriate.
This press release contains information that qualifies as inside
information within the meaning of Article 7(1) of the EU Market
Abuse Regulation. This public announcement does not constitute an
offer, or anny sollicitation of any offer, to buy or subscribe for
any securities in Intertrust.
- 211112 PR - Intertrust and CVC have entered into exclusive
discussions