Clifford Chance advised Mannai Corporation on the completion of its acquisition, from Apax Partners, Altamir and Boussard & Gavaudan, of a number of additional shares that represents c. 10.4% of the share capital and voting rights of Gfi Informatique (on a fully diluted basis) at a price per share of €8.50. Mannai Corporation thus completes the last step of its transaction aimed at reaching a stake of 51% of the share capital and voting rights of Gfi Informatique (on a fully diluted basis).

By holding a majority stake Mannai Corporation provides Gfi Informatique with a long-term shareholder who is an expert in the IT services industry and an effective partner capable of supporting the company’s growth, in particular in the Middle East.

With this transaction, Mannai Corporation reaffirms its commitment to accelerate Gfi Informatique’s international growth, alongside the existing management team and shareholders, Apax Partners, Altamir and Boussard & Gavaudan, in order to make the company a leader in IT services and software products within the EMEA zone (Europe, Middle East, Africa).

Gfi Informatique remains listed on the regulated market of Euronext Paris (Compartment B).

Mannai Corporation was advised by Clifford Chance in Paris with Mathieu Remy, partner, Thibaut Cambuzat, counsel, Jaswinder Brar, lawyer, Katerina Drakoularakou, lawyer, on securities law aspects, Patrick Hubert, partner, Marie-Laure Combet, counsel, Liliane Gam, lawyer and Virginie Vaquette, lawyer, on antitrust aspects and foreign investment control, Alexandre Lagarrigue and Anne Lemercier, partners, on tax aspects, and in Dubaï with James McCarthy, partner, and Nicholas Newman, associate.