Kirkland & Ellis is advising CD&R and the consortium with Everest UK HoldCo Limited, an entity controlled by the Permira funds and the majority shareholder of Exclusive Networks, formed with a view to acquiring the shares of Exclusive Networks held by Everest UK HoldCo Limited and Olivier Breittmayer. The consortium will launch a simplified mandatory tender offer for the Exclusive Networks shares and will subsequently request the implementation of a squeeze-out if the legal conditions are met at the end of the offer.
The proposed transaction values 100% of Exclusive Networks’ share capital at €2.2 billion on a fully diluted basis. The acquisitions are conditioned upon the receipt of customary regulatory approvals.
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