August 20, 2021 | Consumer Discretionary | Europe | Ended

Zooplus / Hellman & Friedman: New Deal Insights

On 13-Aug-21, Hellman & Friedman announced that it had entered an investment agreement with Zooplus in which the US private equity firm would take over ownership of the German e-commerce pet supply platform for €390 per share. The offer implies a one-day premium of 40% to Zooplus’ undisturbed price on 12-Aug-21, a 50% premium to its three-month VWAP and is also 34% higher than its all-time high closing price. Zooplus’ management and the supervisory boards welcome the offer and intend to recommend that shareholders accept it. There is a 50% + 1 share minimum acceptance condition, and, to this end, H&F has secured irrevocable commitments for 17% of Zooplus shares, from the management board and Maxburg Beteiligungen, a private equity investor with ...

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