January 16, 2020 / 12:41 PM / 10 days ago

BRIEF-Global Blue And Far Point Acquisition Announce Business Combination

Jan 16 (Reuters) - Far Point Acquisition Corp:

* GLOBAL BLUE AND FAR POINT ACQUISITION CORPORATION (NYSE: FPAC) ANNOUNCE BUSINESS COMBINATION

* GLOBAL BLUE - IT WILL BECOME A PUBLICLY TRADED COMPANY ON NEW YORK STOCK EXCHANGE THROUGH A MERGER WITH FAR POINT ACQUISITION CORPORATION

* GLOBAL BLUE - TOTAL OF $350 MILLION INVESTMENT FROM ANT FINANCIAL AND FINANCIAL INVESTORS VALUES COMPANY AT AN ENTERPRISE VALUATION OF EUR 2.3 BILLION

* GLOBAL BLUE - CEO JACQUES STERN WILL CONTINUE TO LEAD COMPANY’S EXISTING MANAGEMENT TEAM

* GLOBAL BLUE - THIRD POINT TO LEAD A GROUP OF INVESTORS THAT HAVE COMMITTED AN ADDITIONAL $225 MILLION, OF WHICH $100 MILLION IS FROM THIRD POINT ITSELF

* GLOBAL BLUE - THOMAS FARLEY, CO-SPONSOR OF FAR POINT, TO BECOME CHAIRMAN OF COMBINED COMPANY

* GLOBAL BLUE- FAR POINT AND NEW INVESTORS WILL INVEST ABOUT $1.0 BILLION REFLECTING A TOTAL ENTERPRISE VALUE OF EUR 2.3 BILLION FOR GLOBAL BLUE

* GLOBAL BLUE - NEW PUBLIC COMPANY WILL BE INCORPORATED IN SWITZERLAND AND WILL TRADE AS GLOBAL BLUE UNDER TICKER SYMBOL NYSE: “GB” UPON CLOSING

* GLOBAL BLUE - DEAL TO BE FUNDED BY $650 MILLION CASH HELD IN TRUST BY FAR POINT, MORE INVESTMENTS FROM ANT FINANCIAL SERVICES GROUP, THIRD POINT, OTHERS

* GLOBAL BLUE- ASSUMING NO REDEMPTIONS BY FAR POINT’S PUBLIC SHAREHOLDERS, CO’S HOLDERS WOULD HAVE A RESULTING 42% OWNERSHIP STAKE IN PRO-FORMA CO

* GLOBAL BLUE - CASH IN TRUST & PROCEEDS OF PRIVATE PLACEMENT WILL BE USED PRIMARILY TO PAY EXISTING CO SHAREHOLDERS ABOUT $967 MILLION CASH CONSIDERATION

* GLOBAL BLUE- EXISTING FAR POINT PUBLIC SHAREHOLDERS WOULD OWN 34% OWNERSHIP STAKE IN PRO-FORMA CO

* GLOBAL BLUE- FAR POINT SPONSORS WOULD OWN 6% OWNERSHIP STAKE IN PRO-FORMA CO

* GLOBAL BLUE - BOARDS OF DIRECTORS OF BOTH GLOBAL BLUE AND FAR POINT HAVE UNANIMOUSLY APPROVED CONTEMPLATED TRANSACTION Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below