FTI Capital Advisors Assists e& on Its Acquisition of a Minority Stake in Bespin for $60 Million
Dubai, 7 June 2023 — FTI Consulting, Inc. (NYSE: FCN) today announced that its wholly-owned investment banking subsidiary, FTI Capital Advisors DIFC Limited ("FTICA"), acted as financial advisor to Emirates Telecommunications Group Company PJSC ("e& enterprise") on its acquisition of a minority stake in Bespin Global, a South Korean-based multi-vendor, public-cloud solutions and professional services provider for $60 million.
Under the terms of the agreement, e& has an option to increase its investment in Bespin Global within an 18-month period at the same valuation by injecting a further $60 million.
This transaction was conducted simultaneously with the creation of a joint venture between e& enterprise and Bespin Global to provide public cloud-managed and professional services in the Middle East, Turkey, Africa and Pakistan region.
Fede Membrillera, Senior Managing Director, Global Co-Leader of FTI Capital Advisors and Global Leader of FTICA’s Telecom, Media & Technology practice, commented: "We are delighted to continue supporting e& enterprise in its strategic growth and pursuit of opportunities. This transaction will enable our client to access best-in-class cloud assets and capabilities, which will help to cement its market-leading position in the advanced B2B solutions space.”
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Source: FTI Consulting, Inc.