Brief: Aygaz, Its Fully-Qwned Subsidiary Aykargo And Mckinsey Enters Into A Partnership Framework Agreement

Aygaz

18/01/2021 06:38

Jan 18 (Reuters) - AYGAZ  AYGAZ.IS :
    * SAID ON FRIDAY  AYGAZ, ITS FULLY-OWNED SUBSIDIARY AYKARGO
AND
MCKINSEY ENTERED INTO A PARTNERSHIP FRAMEWORK AGREEMENT ON 15
JAN FOR PURPOSES OF BUILDING A STRATEGIC COLLABORATION 
    * IN THE FIRST 5 YEARS, AYGAZ AND MCKINSEY ENVISAGE TO
INVEST IN
AYKARGO BY INJECTING A TOTAL OF $75 MILLION AS CAPITAL
CONTRIBUTION, AND TO HAVE A PARTNERSHIP RATIO OF 80:20,
RESPECTIVELY
    * MCKINSEY WILL PROVIDE AYKARGO WITH TECHNICAL SUPPORT AND
CONSULTANCY SERVICES IN AMOUNTS CORRESPONDING TO MCKINSEY'S PART
OF THE TOTAL INVESTMENT
    * STARTING FROM END OF YEAR 5, MCKINSEY WILL BE GRANTED EXIT
RIGHTS FOR CERTAIN PERIODS AND CONDITIONS THROUGH INITIAL PUBLIC
OFFERING AND/OR PUT OPTION OF ITS SHARES TO AYGAZ
    * AYGAZ WILL BE GRANTED A RIGHT OF FIRST OFFER AND A CALL
OPTION
    * COMPLEMENTARY AGREEMENTS GOVERNING DETAILS OF
COLLABORATION WILL
BE SIGNED BY APRIL 15, 2021

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nIKA3LVx4V
    
 Further company coverage:  AYGAZ.IS  
   


 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00))