NoHo Partners Plc (“NoHo Partners”), together with the minority shareholders of Smile Henkilöstöpalvelut Oyj (“Smile”) have, on 5th of July 2019 agreed with VMP Plc (“VMP”) upon the combination of the two companies through a merger. Smile’s shareholders will receive as consideration a total of 10.05 million new shares in VMP, which corresponds to a debt-free purchase price of approximately EUR 82m (based on VMP’s closing price of EUR 4.92 on 4th of July 2019). After the arrangement, VMP’s current shareholders will own approximately 59.6% of VMP’s shares and Smile’s current shareholders, 40.4%. The merger is conditional to standard approvals and authorizations from both owners.
Carnegie acted as financial adviser to NoHo Partners and minority shareholders of Smile.