Edition:
United States

Adveo Accepts Binding Offer From Sandton For Acquisition Of Certain Units


Wednesday, 2 Jan 2019 04:26pm EST 

Jan 3 (Reuters) - Adveo Group International SA ::SAID ON WEDNESDAY IT HAD RECEIVED AND ACCEPTED A BINDING OFFER FROM INVESTMENT FUNDS MANAGED BY SANDTON CAPITAL PARTNERS FOR THE ACQUISITION OF CERTAIN ASSETS AND UNITS OF ADVEO FOR BETWEEN 13.3 MILLION EUROS AND 15.5 MILLION EUROS.THE COMPANIES UNDER THE DEAL INCLUDE ADVEO FRANCE SAS, ADVEO ITALIA SPA, ADVEO BELGIUM NV AND ADVEO GLOBAL SERVICES SL.THE OFFER DOES NOT INCLUDE THE ACQUISITION OF STAKES IN ADVEO ESPANA, ADVEO DIGITAL SYSTEMS PORTUGAL, ADVEO DEUSTCHLAND OR ADVEO GROUP INTERNATIONAL .AFTER TRANSACTION, THE REMAINING FINANCIAL DEBT OF ABOUT 150 MILLION EUROS WILL BE TRANSFERRED TO SANDTON.TRANSACTION IS SUBJECT TO CERTAIN CONDITIONS.SANDTON TO PROVIDE ADVEO WITH 5.5 MILLION EURO UNDER A BRIDGE LOAN AGREEMENT.