Motivcom sale set to complete
Thu, 20th November 2014

Motivcom sale set to complete

Shares have been suspended in Milton Keynes-based Motivcom ahead of the group's sale to Sodexo, which values the business at £41m.

Shareholders gave their approval to the transaction earlier this month. Under the terms of the deal, Motivcom shareholders will receive 148p in cash per share.

Motivcom is an AIM-listed business services group offering incentives and loyalty expertise and meetings and event management services to blue chip corporate clients.

Speaking at the time the sale was announced, Motivcom chairman Colin Lloyd said: "Sodexo's global strength in the benefits and rewards area coupled with an underweight presence in the incentives and recognition market in the UK results in an excellent strategic fit for Motivcom's incentives and loyalty business

"This presents an opportunity for the combined benefits and rewards business to leverage the knowledge, knowhow and expertise that resides within Motivcom to expand on a global basis."

Motivcom has also sold its subsidiary Zibrant to a vehicle controlled by director Nigel Cooper for £2.9m.

category Central and East  |  source Insider Media