{"id":172387,"date":"2023-03-14T13:37:16","date_gmt":"2023-03-14T13:37:16","guid":{"rendered":"https:\/\/precoinnews.com\/?p=172387"},"modified":"2023-03-14T13:37:16","modified_gmt":"2023-03-14T13:37:16","slug":"cvent-holding-to-be-taken-private-by-blackstone-in-6-4-bln-deal","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/industries\/cvent-holding-to-be-taken-private-by-blackstone-in-6-4-bln-deal\/","title":{"rendered":"Cvent Holding To Be Taken Private By Blackstone In $6.4 Bln Deal"},"content":{"rendered":"<p> Cvent Holding Corp. (CVT) announced Tuesday that it has entered into a definitive agreement to be acquired by an affiliate of private equity funds managed by Blackstone in a transaction valued at an enterprise value of approximately $4.6 billion.<\/p>\n<p>Under the terms of the agreement, Cvent stockholders will receive $8.50 per share in cash, representing a premium of 52 percent to the volume weighted average share price over the 90 days prior to January 30, 2023 &#8211; the day before media reports of a potential transaction were published. <\/p>\n<p>A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will be a significant minority investor alongside Blackstone as part of the transaction.<\/p>\n<p>Cvent&#8217;s comprehensive suite of <span>technology<\/span> solutions powers the entire event management process to maximize the impact of events. Cvent has approximately 22,000 customers globally.<\/p>\n<p>In connection with the transaction, global investment firm Vista Equity Partners, majority stockholder of Cvent, has agreed to invest a portion of its proceeds as non-convertible preferred stock in financing for the transaction.<\/p>\n<p>The transaction, unanimously approved by the Cvent Board of Directors, is expected to close mid-year 2023, subject to the satisfaction of customary closing conditions, including receipt of approval by Cvent&#8217;s stockholders and required regulatory approvals.<\/p>\n<p>Upon completion of the transaction, Cvent&#8217;s common stock will no longer be publicly listed, and Cvent will become a privately held company.<\/p>\n<p>Blackstone has received a fully committed $1.0 billion credit facility as part of the financing of this transaction. <\/p>\n<p>Source: <a href=\"https:\/\/www.rttnews.com\/3350190\/cvent-holding-to-be-taken-private-by-blackstone-in-6-4-bln-deal.aspx?type=maa\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cvent Holding Corp. (CVT) announced Tuesday that<\/p>\n","protected":false},"author":3,"featured_media":172386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23053],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cvent Holding To Be Taken Private By Blackstone In $6.4 Bln Deal - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/industries\/cvent-holding-to-be-taken-private-by-blackstone-in-6-4-bln-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cvent Holding To Be Taken Private By Blackstone In $6.4 Bln Deal - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Cvent Holding Corp. 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