Brief: Stillfront Group Acquires Moonfrog

Stillfront AB (publ)

01/02/2021 07:28

Feb 1 (Reuters) - Stillfront Group AB (publ)  SFRG.ST :
    * STILLFRONT GROUP ACQUIRES MOONFROG AND ENTERS THE INDIAN
SUBCONTINENT
    * ENTERED INTO AN AGREEMENT TO ACQUIRE 100% OF SHARES IN
MOONFROG
LABS PRIVATE LIMITED
    * TO ACQUIRE FOR AN INITIAL CONSIDERATION OF APPROXIMATELY
USD 90
MILLION ON A CASH AND DEBT FREE BASIS
    * CLOSING OF TRANSACTION IS SUBJECT TO CUSTOMARY CLOSING
CONDITIONS AND IS ENVISAGED TO OCCUR ON 26 FEBRUARY 2021.
    * TRANSACTION INVOLVES INITIAL ACQUISITION OF 91 % OF SHARES
IN
MOONFROG, COMPLETION OF WHICH IS EXPECTED TO OCCUR ON 26
FEBRUARY 2021
    * REMAINING 9% OF SHARES IN MOONFROG ARE ACQUIRED THROUGH
DEFERRED
TRANCHES

Source text for Eikon:  ID:nMFNXg86q 
Further company coverage:  SFRG.ST 

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