3G Capital to acquire majority stake in Hunter Douglas
Reuters
Published Dec 31, 2021 01:08
(Reuters) - Private equity firm 3G Capital on Thursday entered into an agreement to acquire controlling interest in Hunter Douglas NV for an enterprise value of about $7.1 billion, the companies said in a joint statement.
The transaction values the ordinary shares of Hunter Douglas at 175 Euros ($198.21) per ordinary share, the company said in statement.
The Ordinary Share Price represents a 73% premium to Hunter Douglas' closing ordinary share price on Dec. 30, 2021 of €101.40 and a 64% premium to Hunter Douglas' all-time high closing ordinary share price of €106.40.
Hunter Douglas Group Co-President and Co-CEO David Sonnenberg, will transition to executive chairman of the board of directors and João Castro Neves, a senior partner at 3G Capital, is expected to serve as the company CEO upon completion of the transaction, it said.
($1 = 0.8829 euros)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.