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EAC Invest M&A Activity 2019
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M&A Activity
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Sale of Immigration Business Withdrawn - Company announcement No 2/2019
Sale of Immigration Business Withdrawn - Company announcement No 2/2019
Copenhagen, 23 February 2019
As announced 3 December 2018 (Company Announcement No 11/2018), Santa Fe Group A/S had entered into a Term Sheet for the sale of its global Immigration Business, subject to reaching final agreement between the parties. Unexpectedly, it has not been possible to reach such final agreement, and the Sale of the Immigration Business to CIBT, Inc. will consequently not be concluded.
As the Sale of the Immigration Business was part of a plan to strengthen the Group’s capital structure, the Company is now working with its financing partners with the aim of formulating a new plan before end of March for presentation in the Annual Report.
Consequently, the Immigration Business remains an integrated part of the Santa Fe suite of mobility products, and we will continue to service corporate and consumer customers with visa and immigration services through our in-house practice. We have successfully grown the immigration practice consistently over the past four years, and in the process developed a global practice spanning 36 countries globally.
Yours sincerely,
Santa Fe Group A/S
For additional information please contact:
Martin Thaysen, Group CEO, tel. +44 20 3691 8300, e-mail [email protected]
Christian Møller Laursen, Group CFO, tel. +44 20 8963 2514, e-mail [email protected]
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