Slaughter and May is advising Pollen Street Capital on its recommended acquisition of Proactis Holdings plc

Slaughter and May is advising, Café Bidco Limited, a subsidiary of funds managed by Pollen Street Capital, on its recommended acquisition of Proactis Holdings plc. Proactis is an international business spend management solution provider operating with a market-facing presence in the UK, USA, France, Germany and the Netherlands.

Under the terms of the acquisition, each Proactis shareholder will be entitled to receive 75 pence in cash for each Proactis ordinary share held by them. Proactis shareholders also have the option to receive shares in Café Topco Limited, the parent company of Café Bidco Limited, as an alternative to the cash offer. The maximum number of shares available pursuant to this alternative offer will be limited to 24.9 per cent. of the issued ordinary share capital of Café Topco at completion of the acquisition. The acquisition values the entire issued and to be issued ordinary share capital of Proactis at approximately £71.6 million and is expected to complete in the third quarter of 2021, subject to receipt of customary shareholder approvals.

Paul Dickson Partner
Harry Bacon Partner
Sophie Winton Associate
Corporate Finance
Guy O'Keefe Partner
Employment and Incentives
Phil Linnard Partner
Adrien Mallevays Associate
Amy Motherwell Associate
Intellectual Property
Duncan Blaikie Partner
William Turtle Partner
Vera Vollmann Associate