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3G Capital to Acquire 75% Controlling Interest in Hunter Douglas for EUR 175/Share.

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MANews-(C)2009-2022

US-based investment firm 3G Capital has agreed to acquire a 75% controlling interest in Netherlands-based window coverings manufacturer Hunter Douglas (AEX: HDG) from Ralph Sonnenberg, the controlling shareholder of Hunter Douglas Group, at a value of EUR 175 (USD 197) per ordinary share, the company said.

The Sonnenberg Family will continue to hold a 25% interest in Hunter Douglas, pro forma for the new capital structure. The board of directors of Hunter Douglas has entered into a separate agreement with 3G Capital and Ralph Sonnenberg to facilitate and secure a cash exit for all minority shareholders based on the same price per Ordinary Share.

The transaction implies an enterprise value of approximately USD 7.1bn.

3G Capital has obtained, subject to customary conditions, fully committed financing for the transaction from reputable global financial institutions along with its existing equity commitments for the consideration payable under the Block Trade Agreement as well as the Buy-Out. As part of the Support Agreement HoldCo has agreed to certain non-financial covenants.

In order to obtain full ownership of the Hunter Douglas business, and as requested as an essential part of the transaction by 3G Capital, Hunter Douglas and 3G...

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