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GLOBAL BLUE GROUP HOLDING AG

(GB)
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Far Point Acquisition : 28 Aug 2020 - Global Blue Completes Business Combination with Far Point Acquisition Corporation

09/08/2020 | 03:40pm EDT

The combined company is named Global Blue Group Holding AG ('Global Blue'), and its common stock and warrants are expected to trade on the New York Stock Exchange under the ticker symbols 'GB' and 'GB.WS', respectively, beginning Monday, August 31, 2020.

Global Blue will continue to be led by its experienced management team including CEO Jacques Stern. Tom Farley, co-sponsor of FPAC and former President of the New York Stock Exchange, will become Chairman of the company.

Existing Global Blue owners, including global technology investment firm Silver Lake and global private markets investment manager Partners Group, will remain significant investors, owning approximately 81.1% of Global Blue's outstanding shares.

Ant Group, the financial services technology affiliate of Alibaba Group and operator of the Alipay mobile payments platform, also has made a significant investment in Global Blue, becoming one of its main shareholders, with approximately 6.5% of its outstanding shares. Ant Group also will have representation on Global Blue's board of directors.

PJT Partners acted as lead financial advisor to Global Blue and its shareholders. Simpson Thacher & Bartlett LLP, Niederer Kraft Frey, and Kirkland & Ellis acted as legal advisors to Global Blue and its shareholders. Credit Suisse acted as equity private placement agent, financial advisor and capital markets advisor to FPAC. BofA Securities acted as financial advisor and capital markets advisor to FPAC. Morgan Lewis & Bockius LLP acted as legal advisor to FPAC. BNP Paribas and Morgan Stanley were coordinators and active bookrunners on the senior debt financing for the combined company, with mandated lead arranger and bookrunner roles also for each of Royal Bank of Canada, Barclays, BofA Securities, Credit Suisse, and J.P. Morgan. Of the aforementioned financing banks, those not serving as financial advisors to Far Point served as financial advisors to Global Blue and its shareholders, with Deutsche Bank also serving in that capacity.

About Global Blue

As the worldwide leader of the Tax Free Shopping industry for the last 40 years, with a global footprint spanning more than 50 countries and 300,000 points of sale, Global Blue's mission is to empower merchants to capture the full potential of international shoppers. The Group offers a seamless shopping and payment journey for tourists and also provides a wide range of Added-Value Payment Solutions for all the stakeholders involved, including retailers and international shoppers. For more information, please visit http://www.globalblue.com/corporate/.

About Far Point

Far Point Acquisition Corporation was a special purpose acquisition company organized under the laws of Delaware for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the financial technology industry. The company completed its initial public offering on the NYSE in June 2018, raising $632 million from investors. The Business Combination with Global Blue was its initial business combination transaction, and it will cease to be a listed company as a wholly owned subsidiary of Global Blue.

Forward Looking Statements

This press release includes forward looking statements. When used in this press release, the words 'estimates,' 'projected,' 'expects,' 'positions,' 'predicts,' 'anticipates,' 'forecasts,' 'plans,' 'intends,' 'believes,' 'seeks,' 'may,' 'will,' 'would,' 'could,' 'should,' 'future,' 'propose' and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Undue reliance should not be placed on these forward-looking statements, and such statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions, estimates and other important factors, many of which are outside Global Blue's management's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Global Blue undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Media:

Domitille PINTA, VP Communication, +33 (0) 6 11 07 52 90 - dpinta@globalblue.com

Investors:

Investor Relations Director - ir@globalblue.com

Disclaimer

Global Blue Group Holding Ltd. published this content on 28 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2020 19:39:08 UTC


© Publicnow 2020
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Financials
Sales 2020 420 M 499 M 499 M
Net income 2020 -3,53 M -4,19 M -4,19 M
Net Debt 2020 446 M 529 M 529 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 1 940 M 2 301 M 2 301 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 2 050
Free-Float 45,1%
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Managers and Directors
NameTitle
Jacques Stern President, CEO & Non-Executive Director
Loïc Jenouvrier Chief Financial Officer
Thomas W. Farley Chairman
Fabio Ferreira Chief Information Officer
Jeremy Taylor Senior Vice President-Operations
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