iEnergizer launches formal sale process

13th Jun 2022 15:57

(Sharecast News) - AIM-listed iEnergizer has launched a formal sale process, in which Baring Private Equity Asia will participate.

The company - which provides business process outsourcing - said on Friday that it was undertaking a review of strategic options to "maximise value for all existing shareholders". It confirmed at the time that as part of the process, it had entered into preliminary discussions with BPEA Advisors about a possible sale.

It said on Monday that it intends to review "potential buyers who will respect the unique heritage and culture of the business, its commitment to customers and employees, and enable the company to continue to prosper in the long-term whilst maximising value for all stakeholders".

Barclays, J.P. Morgan Cazenove and Arden Partners are acting as joint financial advisers to the company in relation to the sale process.

"There can be no certainty that any offer will be made for the company, or even proposed, or as to the terms of any proposal or offer that may be made," it said.