Bertelsmann JV Majorel eyes $4.6 bln valuation in Amsterdam trading debut

  • 9/16/2021
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BERLIN, Sept 16 (Reuters) - Majorel, a call-centre joint venture of German publisher Bertelsmann and Moroccan partner Saham, is seeking a valuation of up to 3.9 billion euros ($4.6 billion) in its trading debut on the Amsterdam stock exchange. The company set a price range on Thursday of 32 to 39 euros for the placement of up to 23 million shares with institutional investors, through which its owners could reap proceeds of close to 900 million euros. The institutional placement, being managed by JP Morgan, BNP Paribas and Citi, will run until Sept. 23, with trading to commence on Euronext Amsterdam the following day. CEO Thomas Rabe is actively managing the privately held group’s portfolio - which spans television, book publishing, music and education - to consolidate its mature businesses and free up cash to invest in growth projects.Bertelsmann folded its call-centre operation into the 50/50 joint venture with Saham in 2018. Majorel, headquartered in Luxembourg, employs more than 60,000 people in 31 countries. It reported revenue in the first half of 842 million euros and core profit of 154 million. ($1 = 0.8501 euros) (Reporting by Klaus Lauer, Writing by Douglas Busvine; Editing by Bernadette Baum)

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