WSP to acquire RPS Global Plc

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WSP has reached an agreement to acquire RPS Global Plc. WSP and a subsidiary of WSP will acquire the entire share capital of RPS at GBP2.06 (US$2.48) per share. The enterprise value of the transaction is GBP625 million (US$753.88 million). 

RPS Group is a UK-based professional services firm operating across a range of sectors, founded in 1970. RPS provides specialist services to government and private sector clients with a focus on front-end consulting. The firm employs 5,000 personnel globally and generates approximately US$875 million in revenue.

WSP has announced a US$400 million public bought deal and US$400 million private placement equity financing raised from the Government of Singapore Investment Corporation (GIC), Caisse de depot et placement du Quebec (CDPQ) and CPP Investment. WSP intends to use the net proceeds of the equity financing to fund in part the purchase price payable in respect of the Acquisition transaction.

CIBC Capital Markets, National Bank Financial and RBC Capital Markets acted as underwriters to WSP. HSBC acted as financial advisor while Linklaters LLP and Stikeman Elliott LLP  acted as legal advisors to WSP.

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