Brief: Evertec To Acquire Sinqia, A Leading Provider Of Software Solutions For Financial Institutions In Brazil

Evertec

21/07/2023 24:57

July 20 (Reuters) - Evertec Inc  EVTC.N :
    * EVERTEC TO ACQUIRE SINQIA, A LEADING PROVIDER OF SOFTWARE
SOLUTIONS FOR FINANCIAL INSTITUTIONS IN BRAZIL
    * PROPOSED TRANSACTION IS EXPECTED TO BE BREAKEVEN TO
SLIGHTLY
ACCRETIVE TO 2024 ADJUSTED EARNINGS PER SHARE AND ACCRETIVE IN
2025
    * EVERTEC SHAREHOLDER APPROVAL IS NOT REQUIRED AND IS NOT A
CONDITION TO CLOSING PROPOSED TRANSACTION
    * EVERTEC -TO ACQUIRE SINQIA, LEADING PLAYER IN MARKET OF
SOFTWARE
FOR FINANCIAL SERVICES IN BRAZIL FOR CONSIDERATION WITH A VALUE
OF R$27.19 PER SHARE
    * CONSIDERATION WILL BE IN FORM OF 90% CASH 10% EVERTEC
SHARES
    * EVERTEC - ENTERED INTO AN AGREEMENT WITH SHAREHOLDERS
REPRESENTING APPROXIMATELY 40% OF SINQIA'S OUTSTANDING SHARES TO
VOTE IN FAVOR OF TRANSACTION
    * TRANSACTION IS SUBJECT TO SINQIA STOCKHOLDER APPROVAL OF A
SIMPLE MAJORITY
    * SAYS EVERTEC INTENDS TO FINANCE ACQUISITION WITH CASH ON
HAND
AND COMMITTED FINANCING OF $600 MILLION
    * PROPOSED TRANSACTION IS EXPECTED TO BE BREAKEVEN TO
SLIGHTLY
ACCRETIVE TO 2024 ADJUSTED EARNINGS PER SHARE AND ACCRETIVE IN
2025

Source text for Eikon:  ID:nBw80xMHta 
Further company coverage:  EVTC.N 

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