Axway in discussions to buy most of Sopra Steria's SBS unit for 330 million euros (updated)
21/02/2024 18:52
(Adds details about financing plans from paragraph 3 to 5)
Feb 21 (Reuters) - French software company Axway
AXW.PA said on Wednesday it had started discussions to
potentially buy most of Sopra Banking Software activities from
Sopra Steria SOPR.PA .
Axway would acquire the activities based on an enterprise
value of 330 million euros ($357 million), it said in a
statement.
Axway plans to finance the transaction by combining a
capital increase of about 130 million euros with preferential
subscription rights, along with new debt facilities for the
balance.
It has obtained a "comfort" letter from Société Générale and
Groupe Crédit Agricole, two of its relationship banks, Axway
said in a statement.
"All the operations envisaged would significantly strengthen
the strategic partnership between the two Groups, particularly
in financial services, and more generally in Europe," Pierre
Pasquier, chairman of Axway, Sopra Steria and Sopra GMT said in
the statement.
($1 = 0.9253 euros)
(Reporting by Olivier Sorgho and Lina Golovnya; Editing by
Kirsten Donovan and Emelia Sithole-Matarise)
((Olivier.Sorgho@thomsonreuters.com;))