Dutch financial services provider Intertrust has entered into exclusive discussions with private equity firm CVC Capital Partners in relation to a voluntary investment offer by a company “controlled by investment funds advised by CVC”.
The offer is for all issued and outstanding shares of Intertrust at an indicative price of €18 in cash per share, valuing the Dutch giant at €1.63bn (£1.4bn, $1.9bn).
That would be a 43% premium on Intertrust’s closing price of €12.56 on 11 November 2021, according to newswire Reuters.
If the deal is to go ahead, CVC plans to combine Intertrust with Dutch multinational professional services provider TMF Group, which the private equity firm acquired in 2017 for around €1.8bn.
Since the two firms are in talks on the potential takeover, the financial services provider decided to cancel its capital markets day scheduled for 23 November 2021, as well as suspend its share buyback programme announced on 27 September 2021, until further notice.
Intertrust warned that “the outcome of the discussions regarding the proposed transaction is uncertain and that there can be no assurance that a transaction will materialise from these discussions”.
“Further announcements will be made if and when appropriate.”
