Linklaters has advised AKKA Technologies (‘AKKA’), a company listed on Euronext Paris and Euronext Brussels, on its €2 billion ($2.4 billion) combination with the Adecco Group (‘Adecco’), the Swiss staffing giant, creating the world’s largest provider of temporary staffing by revenue.
As a first step, the Adecco Group will acquire the controlling stake of the Ricci family and CNP controlling stakes. Subsequently, a mandatory tender offer will be launched for the remaining shares expected to end of Q1 2022, subject to relevant approvals being obtained.
In a landmark transaction, Adecco will combine AKKA with Modis, its science and IT staffing business, to create the second largest player in the global engineering R&D market, with a combined workforce of 50,000 engineering and digital experts.
The Linklaters cross-practice team included David Ballegeer, Partner, Arnaud Coibion, Partner, Thierry L’Homme, Senior Counsel, and Alexandre de Selys, Managing Associate, from the Brussels Corporate and Finance Practice. In addition, Annamaria Mangiaracina, Partner, and Neil Hoolihan, Counsel from the Antitrust & Foreign Investment Group, also advised on the transaction.
AKKA Technologies’ press release can be found here.
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