Brief: Exail Begins Discussions To Secure Bank Refinancing
BRIEF-Exail Begins Discussions To Secure Bank Refinancing June 11 (Reuters) - Exail Technologies SA EXA.PA:
BEGUN DISCUSSIONS WITH A VIEW TO SECURING BANK REFINANCING FOR THE GROUP BEFORE THE END OF THIS YEAR
VALUATION FIRM SORGEM EVALUATION, WHICH CONCLUDES A VALUE OF €580 MILLION FOR THE ICG EXIT AND APPROXIMATELY €130 MILLION FOR THE MINORITY SHAREHOLDER LIQUIDITY IN 2026
ICG HAS STATED THAT IT INTENDS TO USE EXAIL TECHNOLOGIES’ SHARE PRICE AS ITS PRIMARY BENCHMARK FOR DETERMINING, BY EXTENSION, THE VALUATION OF ITS UNLISTED SUBSIDIARY EXAIL HOLDING
BASED ON ICG'S APPROACH, AMOUNTS THAT WOULD BE PAYABLE IN 2026 FOR THE ICG EXIT AND THE MINORITY SHAREHOLDER LIQUIDITY VALUED AT ABOUT €1.1 BILLION
THE CONTRACTS PROVIDE FOR A PROCESS, IN THE EVENT OF A DEADLOCK, TO VALUE EXAIL HOLDING IN CONJUNCTION WITH INVESTMENT BANKS
DESPITE ITS DISAGREEMENT WITH ICG, THE COMPANY WILL CONTINUE DISCUSSIONS WITH ITS PARTNER
THE COMPANY WILL KEEP THE MARKET INFORMED OF DEVELOPMENTS IN THE DISCUSSIONS ON THIS MATTER
Source text: ID:nACT98721
Further company coverage: EXA.PA
(Gdansk Newsroom)
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Brief: Exail Begins Discussions To Secure Bank Refinancing