Sitel Group agreed to acquire Majorel Group Luxembourg S.A. (ENXTAM:MAJ) on June 20, 2022. As part of transaction, Majorel shares would automatically be exchanged against shares in the Combined Entity which would be admitted to trading on Euronext Amsterdam. The agreed upon terms of the Proposed Merger imply that the Majorel legacy shareholders would represent 43.9% and the Sitel legacy shareholders would represent 56.1% of the Combined Entity. As a result, the shareholding in the Combined Entity upon closing would be as follows: the Mulliez family (44.9%); Bertelsmann (17.3%); Saham (17.3%); Sitel management (11.2%); Majorel management (0.4%); and free float (8.8%). Upon the completion of the Proposed Merger, the Combined Entity would announce its new name and brand identity. It would have its operational headquarters in Luxembourg and would be listed on Euronext Amsterdam. Subject to the above, the Proposed Merger is expected to close in Q4/2022 or Q1/2023. JPMorgan Chase & Co. acted as financial advisor. Carsten Berrar, Krystian Czerniecki, Olivier de Vilmorin, Gauthier Blanluet, Michael Rosenthal of Sullivan & Cromwell LLP, Arendt & Medernach SA, Arendt & Medernach SA acted as legal advisor to Majorel Group Luxembourg. Lazard Ltd acted as financial advisor and Freshfields Bruckhaus Deringer US LLP and Elvinger, Hoss & Prussen acted as legl advisor to Sitel Group

Sitel Group cancelled the acquisition of Majorel Group Luxembourg S.A. (ENXTAM:MAJ) on September 19, 2022.