Groupe Crit announces the signature of a memorandum of understanding for the acquisition of a 57.7% majority stake in Openjobmetis, Italy's sixth-largest temporary staffing company, at a price of 16.50 euros per share.

The French group expects to finalize this acquisition, financed entirely from equity, in early 2024, subject to the usual conditions precedent, including approvals from the competition authorities and the Italian government.

If the transaction is completed, Groupe Crit will file a tender offer for the remaining shares at a price of 16.5 euros per share, which could be followed by a squeeze-out if the required conditions are met.

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