| Capgemini to raise €500m by selling new shares
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| | Capgemini plans to raise at least €455m ($606m) through a new share issue to fund future expansion.
The approximately 10m shares the company plans to sell were priced at €44.50. The €461.1m they will raise could increase to €507.2m if the entire over-allotment option is exercised. The indicative share price announced earlier had been €43.87.
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| | was over-subscribed and closed ahead of schedule.
Capgemini said in October that it is to buy Nasdaq-listed management consulting and outsourcing services provider Kanbay International Inc. for about US$1.25bn (€938m) and reiterated this week that it will fund that transaction with existing cash resources.
In 2003, the company purchased fellow French | |
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| | company Transiciel, which was followed by the win of one of its largest contracts – the management of the UK government's computer systems network.
According to media reports, potential targets for Capgemini include Europe's fast-growing management consultants Aspiren, E-A, Xantus Consulting and Berkshire Consultancy.
Another possible | |
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| | target is the Sage Group, a UK-based supplier of accounting and business management software to small and mid-sized businesses, the only technology company listed on London's FTSE 100 share index. The Newcastle-based company is soaring after last week's announcement of excellent full year pre-tax profit and revenue.
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The company, which said it will use the proceeds to strengthen its balance sheet and possibly for acquisitions, said the tranche of the new stock reserved for institutional investors | |
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