Intertrust has entered into exclusive discussions with CVC Capital Partners (CVC) regarding a potential acquisition by the private equity firm in a deal expected to be worth close to €1.6 billion.
Under the proposed agreement, which are still subject to negotiation, funds advised by CVC will make a voluntary public offer for all issued and outstanding shares of Intertrust, the Netherland’s based fund administrator and financial services company, at an indicative offer price of €18.00 in cash per share (cum dividend) to be paid on completion of the potential transaction.
As part of the proposed transaction, Intertrust and CVC are contemplating a strategic combination of Intertrust and TMF Group B.V..
Intertrust’s management board and the supervisory board of Intertrust are, together with their financial and legal advisors, in the process of reviewing and evaluating all aspects of the proposed transaction.
In doing so, the boards will take into account the interests of Intertrust and all its stakeholders, including its shareholders, employees and clients.
Considering these discussions, the management board and the supervisory board of Intertrust have decided to cancel the company’s Capital Markets Day scheduled for 23 November 2021.
The outcome of the discussions regarding the proposed transaction are uncertain at this stage and there can be no assurance that a transaction will materialise from these discussions, Intertrust says.
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