Slaughter and May is advising Andrew Brode and Jonathan Satchell, Chairman and Chief Executive Officer of, and largest shareholders in, Learning Technologies Group plc (LTG), in respect of the recommended offer for LTG by Leopard Bidco Limited, a company indirectly owned by funds managed by GASC APF, L.P and certain of its managed funds (General Atlantic). The transaction values the entire issued and to be issued share capital of LTG at approximately £802.4 million on a fully-diluted basis. Under the terms of the acquisition, each LTG shareholder will be entitled to receive 100 pence in cash for each LTG share. As an alternative to the cash offer, shareholders may elect in respect of all or part of their shareholding to receive rollover securities in the General Atlantic acquisition structure.
LTG is a leader in the learning and talent development market. In the financial year ended 31 December 2023, LTG enabled learning for more than 200 million people and now employs around 5,000 people in 36 locations across North and South America, Europe, Asia-Pacific, the Middle East and Africa.
The transaction is expected to complete during the first quarter of 2025 subject to the satisfaction or waiver (where applicable) of certain conditions.