Majorel Group Luxembourg, a leading customer experience (“CX”) provider, announced on June 20 that it has agreed on key terms for a potential merger with Sitel Group, a provider of CX products and solutions. The enterprise value of the proposed merged company is €8.6 billion.
The potential merger will transform the two high-profile CX groups into a new global industry leader with a platform across the Americas, Europe, Middle East, Africa and Asia-Pacific regions, employing more than 240,000 team members across more than 300 locations globally, and serving more than 1,000 clients in more than 70 languages. Key terms of the potential merger were agreed upon by Majorel’s major shareholders Bertelsmann Luxembourg, Saham Customer Relationship Investment and Saham Outsourcing Luxembourg (“Saham”), with Sitel Group’s majority shareholder, the Mulliez family.
Upon completion of the proposed merger, the combined entity would be admitted to trading on Euronext Amsterdam.
Prior to this transaction, S&C advised Majorel, a 50-50 joint venture between longstanding S&C client and German media giant Bertelsmann and its Moroccan partner Saham Group, on its Amsterdam listing in September 2021.
The S&C Frankfurt-led team advising Majorel includes Carsten Berrar, Krystian Czerniecki, Lars Rueve, Karoline Koenig, Daniel Roggenkemper and Jannis Rink (all Frankfurt). Olivier de Vilmorin (Paris) is advising on French corporate matters. Gauthier Blanluet and Alexis Madec (both Paris) are advising on French tax matters. Michael Rosenthal, Karen Verlinden and Kolja Ortmann (all Brussels) are advising on European antitrust matters.
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