TDCX in Going-Private Deal Valued at $1.04 Billion

Dow Jones03-01

By Chris Wack

TDCX has entered into a going-private deal in which the company will be acquired by Laurent Junique, TDCX's founder and executive chairman, and his affiliates in a transaction implying an equity value of $1.04 billion.

The members of the buyer group currently beneficially own about 86% of all the issued and outstanding shares of TDCX, representing 98% of the voting power of the company.

Shares represented by American depositary shares will be canceled and cease to exist in exchange for the right to receive $7.20 in cash per share without interest.

The merger consideration represents a premium of 48% to the closing price of the company's ADSs on Dec. 29, 2023, the last trading day prior to the company's receipt of the going-private proposal on Jan. 24, and a premium of 17% to the closing price of the company's ADSs on Thursday.

The merger is expected to close in the second quarter. If completed, the merger will result in the company becoming a privately owned company, and its ADSs will no longer be listed on the New York Stock Exchange.

Singapore-headquartered TDCX provides digital customer experience solutions.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

March 01, 2024 06:55 ET (11:55 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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