Majorel heads for best day ever on potential merger with Sitel
20/06/2022 08:47
** Shares in Majorel Group Luxembourg MAJ.AS rise 14%, on
track for their best day ever in gains hold, after the business
services company agreed key terms of a potential merger with
Sitel Group urn:newsml:reuters.com:*:nFWN2Y6012
** Majorel expects the proposed merger to close in Q4 2022
or Q1 2023
** It sees double-digit revenue growth in 2022 for the new
entity, excluding COVID-19 business last year, and a pro-forma
EBITDA margin of around 16-17% excluding synergies
** The new company would announce its new name and brand
upon completion of the merger and would be listed on Euronext
Amsterdam with headquarters in Luxembourg, Majorel says
** The stock is up around 4% YTD
(Reporting by Olivier Sorgho)
((Olivier.sorgho@thomsonreuters.com))