Global Blue Group AG, a leading provider of Tax-Free Shopping and payment solutions, today announced that it has completed its business combination (the “Business Combination”) with Far Point Acquisition Corporation (NYSE: FPAC, FPAC.UN, and FPAC.WS), a special purpose acquisition company (“FPAC”). The Business Combination was approved by FPAC’s stockholders on August 24, 2020.
The combined company is named Global Blue Group Holding AG (“Global Blue”), and its common stock and warrants are expected to trade on the New York Stock Exchange under the ticker symbols “GB” and “GB.WS”, respectively, beginning Monday, August 31, 2020.
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Global Blue will continue to be led by its experienced management team including CEO Jacques Stern. Tom Farley, co-sponsor of FPAC and former President of the New York Stock Exchange, will become Chairman of the company.
Existing Global Blue owners, including global technology investment firm Silver Lake and global private markets investment manager Partners Group, will remain significant investors, owning approximately 81.1% of Global Blue’s outstanding shares.
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Ant Group, the financial services technology affiliate of Alibaba Group and operator of the Alipay mobile payments platform, also has made a significant investment in Global Blue, becoming one of its main shareholders, with approximately 6.5% of its outstanding shares. Ant Group also will have representation on Global Blue’s board of directors.
PJT Partners acted as lead financial advisor to Global Blue and its shareholders. Simpson Thacher & Bartlett LLP, Niederer Kraft Frey, and Kirkland & Ellis acted as legal advisors to Global Blue and its shareholders. Credit Suisse acted as an equity private placement agent, financial advisor, and capital markets advisor to FPAC. BofA Securities acted as financial advisor and capital markets advisor to FPAC. Morgan Lewis & Bockius LLP acted as legal advisor to FPAC. BNP Paribas and Morgan Stanley were coordinators and active bookrunners on the senior debt financing for the combined company, with mandated lead arranger and bookrunner roles also for each of Royal Bank of Canada, Barclays, BofA Securities, Credit Suisse, and J.P. Morgan. Of the aforementioned financing banks, those not serving as financial advisors to Far Point served as financial advisors to Global Blue and its shareholders, with Deutsche Bank also serving in that capacity.