e& announced that it has agreed to sell its entire investment in Vodafone Group for approximately USD 5.95 billion to an acquisition vehicle owned by French entrepreneur Xavier Niel and his family. The transaction marks e&’s exit from its investment in Vodafone following a strategic review of its international portfolio.
The sale values Vodafone shares at 112.5 pence per share, representing a 15% premium to the previous closing price. According to e&, the transaction is expected to generate a net cash return of approximately USD 1.3 billion.
Key highlights:
• Agreed to sell its Vodafone stake for approximately USD 5.95 billion
• Vodafone shares valued at 112.5 pence per share
• Represents a 15% premium to the previous closing price
• Expected net cash return of approximately USD 1.3 billion
• Buyer is an acquisition vehicle owned by French entrepreneur Xavier Niel and his family
• Transaction subject to customary regulatory approvals
Following the transaction:
• e& will no longer seek representation on Vodafone’s Board
• e&’s nominated non-executive director has stepped down
• The shares will initially be transferred through off-market block trades to financial institutions until regulatory approvals are completed
According to e&, the divestment reflects the company’s strategic focus on its core businesses and will provide additional capital flexibility to support future growth opportunities.
Source: e&
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.