Exclusive Networks: CD&R and Permira take 66.7% stake

(CercleFinance.com) - Investment funds Clayton, Dubilier & Rice (CD&R) and Permira announced last night that they had acquired a block of shares representing 66.
7% of Exclusive Networks' capital, a transaction that paves the way for the launch of a takeover bid for the cybersecurity specialist's 100% share capital.

In a press release, CD&R and Permira state that the last condition precedent necessary to the completion of the acquisitions, namely the payment by Exclusive Networks of an exceptional distribution of 5.29 euros per satisfied share on Monday, has been fulfilled.

As a result, the acquisitions were completed yesterday at a price of 18.96 euros per share after payment of the exceptional distribution.

In the next few days, the consortium plans to file a simplified mandatory tender offer for the remaining shares at the same price of 18.96 euros, or even to request a squeeze-out if the legal conditions are met at the end of the offer.

It is currently envisaged that the offer will open in February 2025.

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