Brief: OEX And Other Shareholders Sign Prelim Deal To Sell Divante For 175.1 Mln Zlotys

Oex SA

20/12/2021 11:24

Dec 20 (Reuters) - OEX SA  OEXP.WA :
    * SAID ON FRIDAY IT HAS DECIDED ALONG WITH OTHER
SHAREHOLDERS OF
DIVANTE TO SIGN A PRELIMINARY DEAL TO SELL 100% STAKE IN DIVANTE
TO CLOUDFLIGHT UNIT SAPPHO ZWEIUNDZWANZIGSTE HOLDING 
    * COMPANY HOLDS 51.03% STAKE IN DIVANTE
    * PRELIM DEAL VALUE FOR 100% STAKE IN DIVANTE IS 175.1
MILLION
ZLOTYS WITH POSSIBLE CORRECTION FOR DIVANTE'S NET DEBT AND
REVOLVING CAPITAL AT DECEMBER 31
    * COMPANY AND OTHER DIVANTE SHAREHOLDERS WILL BE ENTITLED TO
EARN-OUT PROPORTIONAL TO STAKE IF DIVANTE'S 2021 EBITDA EXCEEDS
SET LEVEL WITH MAXIMUM EARN-OUT AT 85.3 MILLION ZLOTYS TOTAL
    * COMPANY AND OTHER DIVANTE SHAREHOLDERS AGREE TO NON
COMPETE
CLAUSE FOR TWO YEAR PERIOD
    * FINAL SALE DEAL IS PLANNED FOR JANUARY 2022

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM488VLza
 Further company coverage:  OEXP.WA  

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