CONDUENT Inc (CNDT): M&A transaction — Conduent completes sale of Casualty Claims Solutions to MedRisk for $224M cash

CONDUENT Inc

Sale closed Sept 1, 2024; Conduent received $224M in cash, subject to post-closing adjustments expected in H1 2025.
Proceeds primarily used for debt repayment; pro forma shows $150M debt retired and $147M increase in retained earnings.
This is the third divestiture in Conduent's portfolio optimization plan, focusing on core capabilities and growth.
Conduent will continue to provide mailroom services for casualty claim clients and serve MedRisk as a client.
Pro forma revenue for 2023 would have been $3,323M vs $3,722M historical, reflecting the business removal.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

CONDUENT Inc completed a disposition involving CP VI Bella Blocker TopCo, LLC for $224 million in the form of cash consideration (closed 2024-09-01).

Action: disposition
Counterparty: CP VI Bella Blocker TopCo, LLC
Consideration: $224 million in the form of cash consideration
Closing: 2024-09-01

Exact text from the filing

On September 1, 2024, the Sale was completed and the Company received $224 million from the Buyer in the form of cash consideration

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

CONDUENT Inc filing history →

Source: SEC EDGAR

accession 0001677703-24-000126

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