Sullivan & Cromwell, Freshfields advise on €8.6bn Sitel and Majorel merger

Arendt & Medernach, Stibbe and Elvinger Hoss Prussen also advised on the deal

Sullivan & Cromwell and Freshfields Bruckhaus Deringer were among firms advising on the potential merger between customer experience providers Majorel Group Luxembourg and Sitel Group to create a combined €8.6bn global giant.

Sullivan & Cromwell advised Majorel on the deal alongside Arendt & Medernach and Stibbe, while Freshfields and Elvinger Hoss Prussen advised Sitel. Both companies provide customer experience technology and services. Under the terms of the deal, Sitel would absorb the Majorel brand, with a new name to be announced. Once the transaction completes, the merged company will trade on the Euronext Amsterdam stock exchange. The combined company will employ more than 240,000 people across 55 countries globally.

Laurent Uberti, president, CEO and co-founder of Sitel Group, said: “With Majorel, we have found the perfect partner to accelerate our strategy delivery. We realised early on that we share the same DNA as Majorel and are excited to jointly write the next chapter in our growth while delivering best-in-class customer experience solutions around the globe.”

Uberti will remain CEO of the combined company, while current Majorel CEO Thomas Mackenbrock will become chief investment officer and CEO of the new company’s EMEA business.

The Frankfurt-led Sullivan & Cromwell team on the deal included Frankfurt managing partner and capital markets co-head Carsten Berrar, partner Krystian Czerniecki, European counsel Lars Rueve and associates Karoline Koenig, Daniel Roggenkemper and Jannis Rink. Paris-based partner Olivier de Vilmorin advised on French corporate matters, along with Paris-based tax partner Gauthier Blanluet and associate Alexis Madec. Brussels-based antitrust co-head Michael Rosenthal, associate Karen Verlinden and law clerk Kolja Ortmann advised on European antitrust matters.

Sullivan & Cromwell previously advised Majorel on its Amsterdam listing last September.

The Freshfields team on the deal included corporate partners Hervé Pisani and Arnaud Mouton in Paris and Dirk-Jan Smit and Hanneke Rothbarth in Amsterdam, finance partners Kyle Lakin and David Almroth in New York, capital markets partner Doug Smith in London and Paris-based partners Vincent Daniel Mayeur and Thomas Métayer (tax), Gwen Senlanne, Elodie Favre-Thellmann (employment) and Alan Ryan (regulatory and antitrust matters).

JP Morgan acted as Majorel’s financial advisor, while Lazard acted for Sitel.

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