Coforge to Buy Encora at $2.35 Billion EV in All Stock Deal (1)

Coforge Ltd. has signed a definitive agreement to buy California-based Encora at an enterprise value of $2.35 billion through a share swap deal, it said in a statement to stock exchanges.

• To buy shares from Advent International, Warburg Pincus and other holders
• Deal has equity value of $1.89 billion, which will be paid in Coforge shares through a preferential allotment
  • To issue 93.8 million shares to Encora holders
  • Encora’s shareholders will own 20% of Coforge shares to be issued at a price of 1,815.91 rupees each
• Coforge will take over debt overseas to retire existing term loan in Encora on ...