It’s official – Why RXP Services (ASX:RXP) shares de-listed from the ASX

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. –

asx share price resignation represented by man kicking miniature man through the air

RXP Services Ltd (ASX: RXP) was removed from the official list of ASX Limited at the closing bell yesterday.

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.

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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.

The post It’s official – Why RXP Services (ASX:RXP) shares de-listed from the ASX appeared first on The Motley Fool Australia.

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