Eurazeo doubles money on Edenred exit

The transaction consisted of 23.1 million shares at a price of €26.13 per share, for a total amount of €603m and a capital gain of approximately €360m.

The accelerated placement of Edenred shares was made with institutional investors through Legendre Holding 19.

Eurazeo's net proceeds from the sale are approximately €295m after taxes, costs relating to the transaction, and reimbursement of the debt allocated to Edenred.

Eurazeo invested in Accor, which previously owned Edenred, together with Colony Capital in May 2008.

Company
Based in Malakoff, France, Edenred was created in 2010 after spinning off from service and hospitality business Accor Services.

Edenred is an international firm of prepaid services for business. The company was listed on the NYSE Euronext Paris in July 2010. Edenred operates in 40 countries, with 6,000 employees and nearly 610,000 companies and public sector clients.

During the last three years, Edenred has shifted towards digitalisation, which now accounts for more than 50% of its activity.

People
Patrick Sayer is chairman of the executive board of Eurazeo. Virginie Morgon is Eurazeo's chief investment officer. Jacques Stern is the CEO of Edenred.

Advisers
Equity – Rothschild & Cie (Financial due diligence)

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