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Update on the Proposed Sale of MCCS Shares in Inetum S.A.

Company: Mannai Corporation
Release Date: April 17, 2022

Mannai Corporation QPSC is pleased to provide a further update on the proposed sale of its shares in Inetum S.A., including the agreed value of the proposed sale.
The consultation of the relevant employee representative bodies of Inetum in France has now been concluded regarding the proposed sale, and Mannai shareholders are now asked to approve the proposed sale.
The value of the proposed sale to a group of investors led by Bain Capital Private Equity, which includes NB Renaissance and the management team of Inetum, is agreed at an enterprise value amounting to EUR 1.85 billion, which could result in an equity value for Mannai in the range of EUR 1.03 – EUR 1.06 billion.
Further clearances are now being sought from the competent antitrust and regulatory authorities in relation to the proposed sale and are expected to be obtained in the coming months.
As advised in the invitation for the Mannai general assemblies scheduled for 26 April 2022, shareholder approval for the proposed sale is tabled in the agenda for the Extraordinary General Assembly.
Shareholders registering their attendance for the online general assemblies will also have, at the same time, the opportunity to cast their votes in respect of the sale transaction and for the election of directors for the next 3-year term.

Download Arabic here, Update on the Proposed Sale of MCCS Shares in Inetum S.A.

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