March 20, 2017 / 11:06 AM / in a year

BRIEF-Capitol Acquisition to combine with Cision

March 20 (Reuters) - Capitol Acquisition Corp III:

* Capitol Acquisition Corp III to combine with Cision

* Capitol Acquisition Corp III - Cision will become a publicly listed company with an anticipated initial enterprise value of approximately $2.4 billion

* Capitol Acquisition Corp III - net cash proceeds from this transaction are expected to be used to pay down Cision’s existing second lien debt

* Capitol Acquisition Corp III - boards of directors of both capitol and Cision have unanimously approved proposed transaction

* Capitol Acquisition-at deal closing, current Cision shareholders & current stockholders of capitol will hold about 68% and 32%, respectively of new co

* Capitol Acquisition Corp III - Cision’s management team, led by CEO Kevin Akeroyd and CFO Jack Pearlstein, will continue to run combined co post-transaction

* Capitol Acquisition Corp III - Capitol chairman and CEO, Mark Ein, will join combined company’s board of directors and serve as vice chairman

* Capitol Acquisition Corp III - Capitol’s president and CFO, Dyson Dryden, will also join board Source text for Eikon: Further company coverage:

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