Looking for RXP Services shares on the ASX? Here’s why you won’t find it anymore. And why shareholders banked some hefty gains.
The post It’s official – Why RXP Services (ASX:RXP) shares de-listed from the ASX appeared first on The Motley Fool Australia. –
This follows on from the digital services company’s announcement on Friday that the scheme of arrangement regarding its acquisition by Capgemini Australia Pty Limited – a wholly-owned subsidiary of Capgemini SE (EPA: CAP) – had been implemented.
Capgemini is now the sole shareholder in RXP, in a deal the French consulting giant first announced it was pursuing in early November 2020. The RXP share price surged 54% on the day of the announcement.
RXP share price lifted 148% in 12 months
RXP shareholders received 50 cents per share plus a 5-cent special dividend for a total cash consideration of 55 cents per share. That’s 148% more than the 22 cents per share RXP Services was trading for on 30 March last year.
Findex’s Corporate Finance Division advised RXP on its successful sale in a deal Findex reports is valued at over $100 million.
Capgemini was advised by Luminis Partners and Herbert Smith Freehills.
Commenting on the completion of the deal Findex Senior Partner Simon Gennari said:
The transaction represents strong value for RXP shareholders being undertaken at a significant premium to the pre-bid share price. Capgemini will benefit from a committed team with a great customer base, adding strongly to their market position.
We’re delighted to have supported RXP Group in their successful sale to Capgemini, which marks one of our largest transactions to date.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
- De Grey (ASX:DEG) share price falters despite new gold discovery
- Why the Calix (ASX:CXL) share price is eyeing record highs
- Why the Digital Wine (ASX:DW8) share price has surged 31% today
- Is the Fortescue share price ring-fenced by Twiggy and its climate targets?
- Why the Kazia Therapeutics (ASX:KZA) share price is rocketing 11%
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.