Brief: Panostaja, Lenio Sign Merger Deal With Infomaatti
BRIEF-Panostaja, Lenio Sign Merger Deal With Infomaatti June 2 (Reuters) - Panostaja Oyj PNA1V.HE:
PANOSTAJA AND ITS PORTFOLIO COMPANY LENIO HAVE TODAY SIGNED A MERGER AGREEMENT BETWEEN LENIO AND INFOMAATTI
GROUP STRUCTURE WILL BE CREATED UNDER LENIO GROUP OY, WITH LENIO OY AND INFOMAATTI OY AS ITS WHOLLY OWNED OPERATING SUBSIDIARIES
INFOMAATTI OY'S ENTERPRISE VALUE IN THE TRANSACTION IS ABOUT €2.7 MILLION
PARTIES HAVE AGREED ON AN EARN-OUT OF UP TO €0.1 MILLION
ACQUISITION OF INFOMAATTI OY'S SHARES WILL BE FINANCED THROUGH A COMBINATION OF CASH AND SHARE CONSIDERATION
PANOSTAJA'S INVESTMENT TO FINANCE THE ACQUISITION OF INFOMAATTI OY AMOUNTS TO €2.0 MILLION
FOLLOWING THE TRANSACTION, PANOSTAJA'S OWNERSHIP STAKE IN LENIO GROUP OY WILL INCREASE TO 58.8%
INFOMAATTI'S CURRENT OPERATIONAL KEY PERSONNEL TO REINVEST SIGNIFICANT PORTION OF CONSIDERATION RECEIVED INTO SHARES IN LENIO GROUP
Further company coverage: PNA1V.HE
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))
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