Blackstone to sell Intelenet to Teleperformance for total consideration of $1B
Teleperformance announced that it has entered into a definitive agreement to acquire Intelenet from Blackstone. The transaction will be completed for a total consideration of $1B. The deal is expected to have a positive impact of around + 10% on Teleperformance's earnings per share before amortization of goodwill in 2018 on a pro forma basis. The net debt to EBITDA ratio on a pro forma basis should be below 2.5 at the end of 2018 and is expected to come down quickly. The acquisition will be fully financed through debt provided by BNP Paribas, J.P. Morgan and Natixis, which may be replaced in whole or in part by a bond issue, subject to market conditions. The transaction is expected to close by September 30, subject to receipt of certain regulatory approvals and other customary closing conditions.