3G Capital to acquire majority stake in Hunter Douglas

Dec 30 (Reuters) – Private equity firm 3G Capital on Thursday entered into an agreement to acquire controlling interest in Hunter Douglas NV (HUDN.AS) for an enterprise value of about $7.1 billion, the companies said in a joint statement.

The transaction values the ordinary shares of Hunter Douglas at 175 Euros ($198.21) per ordinary share, the company said in statement.

The Ordinary Share Price represents a 73% premium to Hunter Douglas’ closing ordinary share price on Dec. 30, 2021 of €101.40 and a 64% premium to Hunter Douglas’ all-time high closing ordinary share price of €106.40.

Hunter Douglas Group Co-President and Co-CEO David Sonnenberg, will transition to executive chairman of the board of directors and João Castro Neves, a senior partner at 3G Capital, is expected to serve as the company CEO upon completion of the transaction, it said.

($1 = 0.8829 euros)

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Reporting by Mrinmay Dey in Bengaluru;
Editing by Sandra Maler

Our Standards: The Thomson Reuters Trust Principles.

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