(RTTNews) - Technology and payments partner Global Blue Group Holding AG (GB) announced Thursday it has entered into a share purchase and investment agreement with Tencent Holdings Ltd. (TCTZF.PK, TCEHY.PK), an internet and technology company.
Tencent has agreed to invest $100 million in Global Blue common equity at a price of $5.50 per share, which is generally in line with the volume-weighted average price over the past 3 months.
At closing, Tencent will own 18.18 million common shares, representing approximately 8% of the total fully-diluted share capital.
The closing of the proposed transaction is expected to take place before month-end, subject to closing conditions. Global Blue intends to use the primary proceeds to reduce its debt balance.
