EVERTEC, Inc. (NYSE : EVTC) agreed to acquire Sinqia S.A. (BOVESPA:SQIA3) for BRL 2.3 billion on July 20, 2023. Under the terms, consideration will be paid in BRL 27.19 per share. Consideration will be in the form of 90% cash 10% Evertec shares. Evertec intends to finance the acquisition with cash on hand and committed financing of $600 million(BRL 2.9 billion). Transaction has been unanimously approved by the boards of directors of both Evertec and Sinqia, subject to satisfaction of customary closing conditions and approvals. The transaction is subject to Sinqia stockholder approval of a simple majority (greater than 50%). As of the signing of the merger agreement Evertec has entered into an agreement with shareholders representing approximately 40% of Sinqia?s outstanding shares to vote in favor of the transaction. As of September 14, 2023, the transaction has received shareholder approval in the Sinqia shareholders? meeting held today. Transaction is expected to be completed during the fourth quarter of 2023. Truist bank is providing committed financing to support the acquisition.

Evercore, Seneca Evercore and Goldman Sachs are acting as lead financial advisors to Evertec. Truist Securities is also serving as a financial advisor to Evertec and Truist bank is providing committed financing to support the acquisition. Peter Harwich, Tony Del Pino, Paul Dudek, Michele Anderson, Stephanie Teicher, Sonja Pollack, Keith Halverstam, Andrew Baker and Irina Yevmenenko of Latham & Watkins and Mattos Filho are serving as legal advisors to Evertec. BTG Pactual is acting as financial advisor to Sinqia. Trindade Sociedade de Advogados and Simpson Thacher & Bartlett LLP are acting as legal advisor to Sinqia.

EVERTEC, Inc. (NYSE : EVTC) completed the acquisition of Sinqia S.A. (BOVESPA:SQIA3) on October 30, 2023. The debt financing was arranged by Truist Securities, Inc., Citizens Bank, N.A. and Fifth Third Bank, N.A. as Joint Lead Arrangers.