ADECCO GROUP RAISES EUR 232 MILLION THROUGH CAPITAL INCREASE TO FUND PLANNED ACQUISITION OF AKKA TECHNOLOGIES
Adecco Group AG (the “Company” or “Adecco Group”) successfully raised approximately EUR 232.29 million through the placement of 5,100,000 New Shares at a price of CHF 49.60 per New Share.
Coram Williams, CFO of Adecco Group, said:
“Today is an important milestone in the process to acquire AKKA Technologies and another step in executing on our strategy. With the successful placing of new shares, investors are demonstrating their support for this transaction and its significant value creation opportunity, which includes strong earnings accretion in 2022.”
We are already planning the integration of AKKA and Modis, and we look forward to updating investors regularly on progress and demonstrating the value created. We will continue to advance Adecco Group’s strategy through our three market-leading Global Business Units, Adecco, LHH and Modis, united by the provision of talent, efficiently and at scale, that meets the differing people needs of our customers, from blue-collar to engineers, and through transformation services, from training and re-skilling, to outplacement,” he added.
The share capital of the Company will increase from CHF 16,312,417.70 to CHF 16,822,417.70 by issuing 5,100,000 registered shares each with a par value of CHF 0.10 (the “New Shares”) against cash contributions, making use of the existing authorised capital pursuant to article 3bis of the Company’s Articles of Incorporation (the “Capital Increase”).
The New Shares carry full dividend rights for the fiscal year 2021 beginning on 1 January 2021.
The Capital Increase generated gross proceeds of approximately EUR 232.29 million (corresponding to CHF 252,960,000). Adecco Group intends to use the net proceeds from the Capital Increase to fund, in part, the acquisition of AKKA Technologies, which was announced on 28 July 2021. For further information on this transaction, please click here.
The New Shares are expected to be listed and admitted to trading on the SIX Swiss Exchange on 9 September 2021. The first day of trading is expected to be 9 September 2021.
Adecco Group has agreed to a lock-up period of 90 days from the Settlement Date, subject to customary exceptions.
About the Adecco Group
The Adecco Group is the world’s leading talent advisory and solutions company. We believe in making the future work for everyone, and every day enable more than 3.5 million careers. We skill, develop and hire talent in 57 countries, enabling organisations to embrace the future of work. As a Fortune Global 500 company, we lead by example, creating shared value that fuels economies and builds better societies. Our culture of inclusivity, entrepreneurship and teamwork empowers our 30,000 employees. We are proud to have been consistently ranking on of the “World’s Best Workplaces” by Great Place to Work®. The Group is headquartered in Zurich, Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN).
For further information please contact:
Investor Relations
+41 (0)44 878 88 88
Press Office
+41 (0) 44 878 87 87
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