Conditions precedent for the acquisition by Mannai Corporation of a majority stake in Gfi Informatique fulfilled
Conditions precedent for the acquisition by Mannai Corporation of a majority stake in Gfi Informatique fulfilled
Mannai Corporation, Apax France and Boussard & Gavaudan announced that they entered into exclusive negotiations for Mannai Corporation
As a reminder, on 23 November 2015, Mannai Corporation, Apax France (jointly with Altamir) and Boussard & Gavaudan announced that they entered into exclusive negotiations for Mannai Corporation to acquire 51% of the share capital and voting rights of Gfi Informatique (ISIN FR0004038099) on a fully diluted basis at the price of €8.50 per share.
Release date :
Paris, April 6 2016
As a reminder, on 23 November 2015, Mannai Corporation, Apax France (jointly with Altamir) and Boussard & Gavaudan announced that they entered into exclusive negotiations for Mannai Corporation to acquire 51% of the share capital and voting rights of Gfi Informatique (ISIN FR0004038099) on a fully diluted basis at the price of €8.50 per share.
To date, the two conditions precedent for the transaction have been fulfilled, namely clearance of the transaction by the European Commission regarding merger control and by the French Ministry of the Economy regarding foreign investment in France.
Therefore, as a first step of the acquisition by Mannai Corporation of a majority stake in GFI Informatique aiming at making the company a leader in IT services and software products within the EMEA (Europe, Middle East, Africa) zone, the parties intend to complete on 8 April 2016 the acquisition by Mannai Corporation of a c. 25% stake (on a fully diluted basis) through an off-market transaction. Another press release will be published by the parties when such off-market transaction will have been completed.
About Gfi Informatique
Gfi Informatique is a major player in value-added IT services and software in Europe, and occupies a strategic position in its differentiated approach to global firms and niche entities. With its multi-specialist profile, the Group serves its customers with a unique combination of proximity, sector organisation and industrial-quality solutions. The Group has around 12,000 employees and generated revenue of €894.0 million in 2015.
Gfi Informatique is listed on the Paris Euronext (Compartment B) - ISIN Code: FR0004038099.
About Mannai Corporation
Mannai Corporation is a diversified publicly listed conglomerate spanning the key industry and services sectors. Created over 60 years ago and based in Doha, Qatar, the group has grown over the years through a business portfolio and geographical diversification strategy. Today, the core activities of the group include information and communication technology, automotive distribution, jewelry retailing, heavy equipment distribution and services and engineering services to the oil and gas sector. Mannai Corporation employs over 6,100 employees within its group of companies. In addition to Qatar, the conglomerate has a presence today in UAE, India & Turkey. As of December 31st 2015, Mannai Corporation recorded 1.48 billion euros in revenue and a 133 million euros net profit. Mannai Corporation is listed on the Qatar Exchange since 2007 (QE: MCCS).
About Apax Partners
Apax Partners is a leading private equity firm in French-speaking European countries. With more than 40 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €2.4 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation.
Current portfolio companies include:
TMT: Altran, Cabovisão and ONI, Gfi Informatique, InfoPro Digital, InfoVista, Melita, and Vocalcom
Retail & Consumer: Alain Afflelou, Europe Snacks, Groupe Royer and Thom Europe (Histoire d’Or, Marc Orian and TrésOr).
Healthcare: Amplitude Surgical and Unilabs. Services: Groupe INSEEC, SK FireSafety and TEXA.
For more information, please visit www.apax.fr or our social networks.
About Altamir
Altamir (Euronext Paris-B, LTA) is a listed private equity company with more than €650m in assets under management. The company invests via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms in their respective markets. It provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation (TMT, Retail & Consumer, Healthcare, Business & Financial Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).
For more information: www.altamir.fr
About Boussard & Gavaudan
Created in 2002, by Emmanuel Boussard and Emmanuel Gavaudan, Boussard & Gavaudan is an independent asset manager, wholly owned by his founders and partners. The funds managed and advised by Boussard & Gavaudan are around €2.4 billion. The Group has 60 recognized professionals, from which 10 traders and 8 analysts. Boussard & Gavaudan distinguishes itself by its entrepreneurial, proactive and independent spirit, insuring an objective investment process.
Media contacts:
Mannai Corporation – Havas Paris
Stéphanie Elbaz – +33 6 46 05 08 07 – stephanie.elbaz@havasww.com
Marie Frocrain – +33 6 04 67 49 75 – marie.frocrain@havasww.com
Daniel Saltsman – + 33 6 33 39 94 42 – daniel.saltsman@havasww.com
Apax Partners
Coralie Cornet, Communications Director
Tel. + 33 1 53 65 01 29
coralie.cornet@apax.fr
Altamir
Agathe Heinrich, Investor Relations & Communications
Tel. +33 1 53 65 01 74
agathe.heinrich@altamir.fr
Please download the attached file for more details