Mannai Corporation has said its proposed sale of entire holding in French information technology services provider Inetum has been agreed at an enterprise value of €1.85bn, resulting in an equity value of €1.03bn to €1.06bn for the Qatar-based company.
The proposed sale is to a group of investors led by Bain Capital private equity, which includes NB Renaissance and the management team of Inetum.
Further clearances are now being sought from the competent antitrust and regulatory authorities in relation to the proposed sale and are expected to be obtained in the coming months.
The consultation of the relevant employee representative bodies of Inetum in France has now been concluded regarding the proposed sale, and Mannai shareholders are now asked to approve the proposed sale. The Mannai general assembly is scheduled for April 26, 2022.
In January this year, Mannai Corporation entered into exclusive negotiations with a group of investors, led by Bain Capital and includes NB Renaissance, to dispose of its entire shareholding in Inetum.
Mannai Corporation is advised by Credit Agricole Corporate and Investment Bank, JP Morgan and Lazard Freres acting as financial advisors and Clifford Chance Europe acting as legal advisor. Bain Capital and NB Renaissance are advised by Credit Suisse, Torch Partners and Eight Advisory as well as Weil, Gotshal and Manges acting as legal adviser.
Further clearances are now being sought from the competent antitrust and regulatory authorities in relation to the proposed sale and are expected to be obtained in the coming months.
The consultation of the relevant employee representative bodies of Inetum in France has now been concluded regarding the proposed sale, and Mannai shareholders are now asked to approve the proposed sale. The Mannai general assembly is scheduled for April 26, 2022.
In January this year, Mannai Corporation entered into exclusive negotiations with a group of investors, led by Bain Capital and includes NB Renaissance, to dispose of its entire shareholding in Inetum.
Mannai Corporation is advised by Credit Agricole Corporate and Investment Bank, JP Morgan and Lazard Freres acting as financial advisors and Clifford Chance Europe acting as legal advisor. Bain Capital and NB Renaissance are advised by Credit Suisse, Torch Partners and Eight Advisory as well as Weil, Gotshal and Manges acting as legal adviser.