February 22, 2017 / 4:12 AM / 6 months ago

BRIEF-Novitex and Sourcehov to merge with Quinpario to form Exela Technologies in $2.8 bln deal

Feb 21 (Reuters) - Quinpario Acquisition Corp. 2

* Affiliates of Apollo and HGM agree to combine novitex and Sourcehov with Quinpario acquisition corp. 2 to form exela technologies, a public company in a transaction valued at $2.8 billion

* Combined company is expected to have approximately $1.5 billion in revenue in 2017

* Ddeal price funded through combination of $1.35 billion in new debt financing, cash from quinpario, rollover equity and cash on hand

* Shareholders of sourcehov and novitex are rolling 100 percent of current equity, and will be majority shareholders of combined company

* Quinpario acquisition corp- proposed transaction includes committed financing from royal bank of canada and credit suisse

* Says combined company will have a board of directors consisting of eight members

* Combined company to be listed on nasdaq global select market Source text for Eikon: Further company coverage:

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