12th Aug 2024 09:00
(Alliance News) - Apax Global Alpha Ltd on Monday said the take-private deal for portfolio company Thoughtworks Inc values AGA's stake at around EUR54 million.
Last Tuesday, AGA said Thoughtworks, an Apax IX fund portfolio company that provides technology consultancy, had agreed to be taken private by Apax funds. The USD1.75 billion deal is at USD4.40 per Thoughtworks share.
Under the deal, Apax IX and co-investors will purchase all the outstanding shares in Thoughtworks.
AGA is a closed-ended investment company that provides access to the private equity funds of investment adviser Apax Partners LLP. It said the purchase price values its total look-through investment in Thoughtworks at around EUR54 million.
The acquisition is expected to close in the fourth quarter, subject to customary closing conditions.
Total proceeds received by AGA to date from Apax IX's investment in Thoughtworks stand at around EUR73 million.
Shares in AGA were down 0.3% at 140.76 pence in London on Monday morning.
By Jeremy Cutler, Alliance News reporter
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