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BRIEF-Paysafe reaches deal on cash offer by Blackstone, CVC funds
August 4, 2017 / 6:25 AM / in 3 months

BRIEF-Paysafe reaches deal on cash offer by Blackstone, CVC funds

Aug 4 (Reuters) - PAYSAFE GROUP PLC :

* 2.7 ANNOUNCEMENT - RECOMMENDED CASH OFFER

* CO, PI UK BIDCO ANNOUNCE THEY REACHED DEAL ON TERMS OF RECOMMENDED CASH OFFER TO BE MADE BY BIDCO FOR PAYSAFE

* UNDER TERMS OF ACQUISITION, EACH PAYSAFE SHAREHOLDER WILL BE ENTITLED TO RECEIVE: 590 PENCE IN CASH PER PAYSAFE SHARE

* ACQUISITION VALUES ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL OF PAYSAFE AT APPROXIMATELY £2.96 BILLION

* PI UK BIDCO IS NEWLY-INCORPORATED CO JOINTLY-OWNED BY FUNDS MANAGED BY BLACKSTONE AND FUNDS MANAGED AND/OR ADVISED BY CVC

* ACQUISITION IS EXPECTED TO COMPLETE IN Q4 OF 2017

* PI TOPCO LIMITED ENTERED INTO SHARE PURCHASE AGREEMENT WITH SPECTRUM GLOBAL LIMITED, WHEREBY PAYSAFE‘S UNIT TO BE SOLD TO SPECTRUM GLOBAL SOURCE TEXT FOR EIKON: FURTHER COMPANY COVERAGE:

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