Brief: Novabase Sells Novabase Neotalent to Conclusion Group

Novabase SGPS SA

13/10/2023 06:36

Oct 13 (Reuters) - Novabase SGPS SA  NBA.LS :
    * SAID ON THURSDAY IT ENTERED, TOGETHER WITH ITS INDIRECT
SUBSIDIARY NOVABASE CONSULTING SGPS, INTO A SALE AND PURCHASE
AGREEMENT 
    * AGREEMENT WITH CONCLUSION GROUP FOR NOVABASE'S IT STAFFING
BUSINESS 
    * AGREEMENT THROUGH DISPOSAL OF ALL SHARES HELD BY SELLER IN
NOVABASE NEOTALENT, CORRESPONDING TO 95.003% OF SHARES
REPRESENTING RESPECTIVE SHARE CAPITAL, WHICH HOLDS THE ENTIRE
SHARE CAPITAL OF NOVABASE NEOTALENT ESPANA
    * COMPLETION OF THE PURCHASE AND SALE WILL TAKE PLACE IN
COMING
MONTHS
    * PRICE AGREED TO BE PAID ON DATE OF COMPLETION OF
TRANSACTION IS
49.4 MILLION EUROS,SUBJECT TO ADJUSTMENTS UNDER THE TERMS OF THE
AGREEMENT
    * ADDITIONAL AMOUNT OF UP TO 0.95 MILLION EUROS
("EARN-OUT"),
SUBJECT TO FULL COMPLIANCE WITH TRANSITIONAL SERVICES AGREEMENT
("TSA"), TO BE PAID AT THE END OF TSA 
    * MAXIMUM DURATION OF TSA IS 18 MONTHS
    * AS A RESULT OF TRANSACTION, COMPANY ESTIMATES IT COULD
EARN
BETWEEN 21 MILLION AND 26 MILLION EUROS

        
 Source text: https://tinyurl.com/5n8vt7ny
 Further company coverage:  NBA.LS  

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