EMZ has arranged and underwritten a mezzanine financing in order to fund the increase in ownership in the listed group Linedata by Amanaat, holding of the Jiva family.
Founded in 1998 by M. Anvaraly Jiva, the CEO, and listed on Euronext Paris since 2010, Linedata is a world leading financial software editor specializing in asset management, insurance and lending & leasing. The group is active in Europe, the US and Asia through its 15 offices and sells its solutions to a diversified portfolio of 650 clients. In 2014, Linedata posted revenues of 158 m€ and Ebitda of 41.6 m€.
In May 2015, the Jiva family, through its holding Amanaat, has seized the opportunity to increase ownership in the share capital of Linedata by buying out minority stakes, bringing ownership of Amanaat, the Jiva family as well as some managers to 50.1%. The resulting transfer of control has required the launch, by Amanaat, of a public offering on 100% of the group’s shares and has been followed by a repurchase offering launch by Linedata on its own shares.
The bond financing brought by EMZ has partly funded the buy-out of the minority stakes as well as the public offering on the remaining shares.