It's official – Why RXP Services (ASX:RXP) shares de-listed from the ASX

Looking for RXP Services shares on the ASX? Here's why you won't find it anymore. And why shareholders banked some hefty gains.

Bernd Struben ❯

Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel.

Published March 30, 2021 12:33 pm AEDT

RXP Services Ltd (ASX: RXP) was removed from the official list of ASX Limited at the closing bell yesterday.

This follows on from the digital services company's announcement on Friday that the scheme of arrangement regarding its acquisition by Capgemini Australia Pty Limited – a wholly-owned subsidiary of Capgemini SE (EPA: CAP) – had been implemented.

Capgemini is now the sole shareholder in RXP, in a deal the French consulting giant first announced it was pursuing in early November 2020. The RXP share price surged 54% on the day of the announcement.

RXP share price lifted 148% in 12 months

RXP shareholders received 50 cents per share plus a 5-cent special dividend for a total cash consideration of 55 cents per share. That's 148% more than the 22 cents per share RXP Services was trading for on 30 March last year.

Findex's Corporate Finance Division advised RXP on its successful sale in a deal Findex reports is valued at over $100 million.

Capgemini was advised by Luminis Partners and Herbert Smith Freehills.

Commenting on the completion of the deal Findex Senior Partner Simon Gennari said:

The transaction represents strong value for RXP shareholders being undertaken at a significant premium to the pre-bid share price. Capgemini will benefit from a committed team with a great customer base, adding strongly to their market position.

We're delighted to have supported RXP Group in their successful sale to Capgemini, which marks one of our largest transactions to date.

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