Travers Smith LLP has advised Inflexion on the recommended voluntary cash offer for Infront ASA.
The Travers Smith team is led by Corporate Partners Richard Spedding and Will Yates, assisted by Corporate associates Tom Lloyd and Michal Szperzynski. Norwegian law advice has been provided by Advokatfirmaet Thommessen AS (Lars Eirik G. Røsås) and German law advice by Noerr LLP (Drs. Holger Alfes and Jens Kunz)
Infront is a public company listed on the Oslo Stock Exchange and headquartered in Oslo, with approximately 500 employees in 13 countries. The Company offers a powerful combination of global market data, electronic trading, news, and analytics along with data and feed solutions, solutions for portfolio management and advisory, regulatory compliance as well as publication and distribution solutions. Infront has 90,000 users in more than 50 countries.
The offer values the outstanding shares in Infront at approximately £127.8m. The offer price represents a 30.9 percent and 56.0 percent premium to the volume-weighted average price (VWAP) of Infront for the 1-month and 3-month period to 14 December 2020 respectively. The transaction includes agreements entered into with the two founders of Infront, Kristian Nesbak (CEO) and Morten Lindeman (CIO), representing a total of 26.1 percent of the outstanding shares of Infront, whereby a part of the consideration will be reinvested in the parent company of the offeror.
The offer is to be made by an indirect wholly-owned subsidiary of a fund advised by Inflexion Private Equity Partners LLP.