Gi Group Holding S.r.l. entered into an agreement to acquire European Staffing business of Kelly Services, Inc. (NasdaqGS:KELY.A) for ?130 million on November 2, 2023. The transaction price includes cash consideration of ?100 million and an additional earnout potential of up to ?30 million. The transaction is subject to receipt of required regulatory approvals and other customary closing conditions and is expected to close in the first quarter of 2024.
DLA Piper LLP (US) is serving as legal counsel to Kelly. Phelim O'Doherty, Federica Longo, Pietro Bernasconi and Alessandra Calabrese of Studio Professionale Associato a Baker & McKenzie acted as legal advisors and Deloitte Financial Advisory Services S.p.A acted as financial advisors and Deloitte Italy S.p.A as Accountant to Gi Group Holding S.r.l.