Far Point Acquisition Corporation (“Far Point”) is a company organized for the purpose of pursuing a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Far Point intends to focus on a target business in the financial technology, technology or financial services industries.
Global Blue and Far Point Acquisition Corporation (NYSE: FPAC) Announce Business Combination
- Global Blue, a leading provider of Tax Free Shopping and payment solutions, to list on the New York Stock Exchange at the close of the transaction
- Former NYSE President Thomas Farley, co-sponsor of Far Point, a special purpose acquisition company, to become Chairman of the combined company
- Current Global Blue senior management, led by CEO Jacques Stern, to continue in their roles; existing Global Blue owners including leading technology investor Silver Lake to remain significant shareholders
- Ant Financial Services Group, a member of the Alibaba digital economy and operator of the world’s leading payment and lifestyle platform Alipay, to invest $125 million in the combined company and accelerate strategic collaboration with the company
- Third Point to lead a group of financial investors that have committed an additional $225 million, of which $100 million is committed by Third Point and $125 million by the remaining financial investors, at a $2.6 billion valuation
- Transaction expected to close during the second quarter of 2020
Conference Call Information
For more information on this proposed transaction, investors may listen to a call jointly held by Far Point and Global Blue at 9:00am EST / 3:00pm CET on January 16, 2020. The call can be accessed by dialing +33 170750724 (France), +44 800 358 2049 (UK) or +1 (844) 307-9361 (US Toll Free) and using code 301308394.