{"id":49502,"date":"2023-08-17T06:18:14","date_gmt":"2023-08-17T10:18:14","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/exclusive-silver-lake-to-explore-sale-of-tax-free-shopping-firm-global-blue-sources\/"},"modified":"2023-08-17T06:18:16","modified_gmt":"2023-08-17T10:18:16","slug":"exclusive-silver-lake-to-explore-sale-of-tax-free-shopping-firm-global-blue-sources","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=49502","title":{"rendered":"Exclusive-Silver Lake to explore sale of tax-free shopping firm Global Blue -sources"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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By Milana Vinn and Amy-Jo Crowley<\/p>\n

(Reuters) -Private equity firm Silver Lake is preparing to explore a sale of Global Blue Group Holdings Ltd, a company that enables retailers to offer tax-free shopping, after receiving expressions of interest from potential acquirers, people familiar with the matter said on Tuesday. <\/p>\n

The deliberations come as Global Blue recovers from the air travel slump caused by the COVID-19 pandemic, which weighed on duty-free shopping. It still faces headwinds, including price inflation and the prospect of an economic recession in Europe, which the company says it can tackle. <\/p>\n

Silver Lake has hired an investment bank to explore options for Global Blue, which include a sale or capital market transactions, the sources said. Other companies and private equity firms have shown interest in acquiring Global Blue, the sources added.<\/p>\n

The sources cautioned that a deal isn’t certain and asked not to be identified because the matter is confidential. Silver Lake declined to comment, while Global Blue did not immediately respond to a request for comment.<\/p>\n

Global Blue’s shares rose 9.2% in afternoon trading in New York on Tuesday to $4.99, giving the company a market value of about $1 billion. The company had net debt of 550 million euros ($600 million) as of the end of March.<\/p>\n

Headquartered in Signy, Switzerland, Global Blue provides technology that reimburses retailers for making shopping tax-free for consumers. It serves more than 400,000 merchant stores in over 50 countries.<\/p>\n

Silver Lake owns more than two-thirds of Global Blue after acquiring it in a 1-billion-euro deal in 2012 and then merging it with a blank-check acquisition company sponsored by Daniel Loeb’s hedge fund Third Point LLC in 2020 at a $2.6 billion valuation. <\/p>\n

Global Blue reported adjusted earnings before interest, taxes, depreciation and amortization of 78 million euros in the 12 months to the end of March, compared to a 9.9 million euro loss in the previous 12 months, as it benefited from the travel industry’s recovery. It has said it expects the bounce-back to continue as China reopens its travel. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. By Milana Vinn and Amy-Jo Crowley (Reuters) -Private equity firm Silver Lake is preparing to explore a sale of Global Blue Group Holdings Ltd, a company that enables retailers to offer tax-free shopping, after receiving expressions of interest from potential acquirers, people familiar with the matter said on Tuesday. The deliberations come as […]<\/p>\n","protected":false},"author":1,"featured_media":3590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-49502","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nExclusive-Silver Lake to explore sale of tax-free shopping firm Global Blue -sources | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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