Brief: GBL Announces Webhelp And Concentrix To Enter Into Agreement

Groep Brussel Lambert NV

30/03/2023 07:21

March 30 (Reuters) - Groep Brussel Lambert NV  GBLB.BR :
    * GBL ANNOUNCES THAT WEBHELP AND CONCENTRIX HAVE ENTERED
INTO AN
AGREEMENT TO CREATE A PROMINENT GLOBAL PLAYER IN CUSTOMER
EXPERIENCE
    * UPON COMPLETION OF THE TRANSACTION, GBL WOULD BECOME THE
LARGEST
SHAREHOLDER OF THE COMBINED ENTITY AND BE REPRESENTED ON ITS
BOARD OF DIRECTORS
    * THE IMPLIED VALUATION OF €1.529BN FOR GBL’S STAKE IN
WEBHELP
REPRESENTS A MOIC OF 1.8X SINCE GBL’S INITIAL INVESTMENT IN
NOVEMBER 2019
    * THIS TRANSACTION IS IN LINE WITH THE STRATEGY GBL
INITIATED IN
2019 TO INVEST IN SOLID, FAST-GROWING PRIVATE PLATFORMS WELL
POSITIONED TO PARTICIPATE IN SECTOR CONSOLIDATION AND ATTAIN
LEADERSHIP
    * GBL WOULD BE PAID IN CONCENTRIX SHARES,  EARN-OUT SHARES
AND
SELLER NOTE
    * GBL WOULD BE PAID: 12.9% OF CONCENTRIX’S OUTSTANDING
COMMON
STOCK
    * GBL WOULD BE PAID: EARN-OUT SHARES THAT COULD GIVE ACCESS
TO
ADDITIONAL CAPITAL TO COMBINED ENTITY IF CERTAIN THRESHOLDS ARE
REACHED
    * GBL WOULD BE PAID: NOTE ENTITLING GBL TO RECEIVE ABOUT
€500M IN
CASH ON SECOND ANNIVERSARY OF TRANSACTION CLOSING

Source text: https://bit.ly/42To1xe
Further company coverage:  GBLB.BR 

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