During the additional acceptance period, an additional 1,335,114 Nagarro shares were tendered under the offering. Adding the 7,568,145 Nagarro shares tendered during the initial acceptance period, 8,903,259 Nagarro shares have now been tendered under the Offer, representing approximately 71.94% of the share capital and voting rights of Nagarro. If we add to this the turnout of about 22.10% already acquired by Persistent under the share purchase agreement with Lantano Beteiligungen GmbH (“Lantano”), Persistent now owns approximately 94.04% of the share capital and voting rights of Nagarro. This result far exceeds the minimum acceptance threshold of 50% plus one action required for the offer to be completed.
Sandeep Kalra, Managing Director and Executive Director of Persistent Systems Limited:
“The final results of our Nagarro bid clearly confirm the relevance of the strategic logic behind the combination between Persistent and Nagarro.” We now look forward to taking the final steps towards closing the transaction.” Together, we will build the global AI-driven digital engineering player we envision. ”
Following the completion of the offer and as part of a privatization strategy, Persistent, which acquired more than 90% of the share capital and voting rights of Nagarro, plans to carry out a mandatory repurchase of the shares held by the remaining minority shareholders of Nagarro upon closing of the transaction. No final decision has yet been made. Persistent will provide further details on the specific measures that will be taken in due course.
Persistent expects to close the transaction by the end of the first quarter of calendar year 2027, subject to obtaining the few regulatory approvals still pending.
