Brief: Wirtualna Polska Invests 21 Mln Zlotys In Superauto24.Com

Wirtualna Polska Holding SA

20/12/2018 10:35

Dec 20 (Reuters) - WIRTUALNA POLSKA HOLDING SA  WPPL.WA  :
    * SAID ON WEDNESDAY THAT IT ACQUIRED 20 SHARES IN
SUPERAUTO24.COM
SP. Z O.O. (LIMITED LIABILITY COMPANY/LLC -- SUPERAUTO24.COM)
FOR 450,000 ZLOTYS
    * ALSO ACQUIRED 11 NEWLY ISSUED SHARES OF SUPERAUTO24.COM
FOR 20.7
MILLION ZLOTYS
    * AS A RESULT THE COMPANY WILL OWN 50.8% STAKE IN
SUPERAUTO24.COM 
    * SELLING PRICE MAY BE INCREASED BY MAXIMUM 5 MILLION ZLOTYS
DEPENDING ON FINANCIAL OBJECTIVES FOR FINANCIAL YEAR 2019 BEING
MET BY SUPERAUTO24.COM, AS PER THE PRELIMINARY AGREEMENT 
    * PART OF THE PURCHASE PRICE, 16.7 MILLION ZLOTYS, WILL BE
ALLOCATED FOR PURCHASE OF COMPANIES FROM SUPER AUTO SP. Z O.O.
GROUP AND SUPER AUTO SP.J. B. CHOJNACKI, K. MAKULA BY
SUPERAUTO24.COM
    * THE REMAINING PART IN AMOUNT OF 4 MILLION ZLOTYS WILL BE
ALLOCATED FOR DEVELOPMENT OF SUPERAUTO24.COM 
    * FORECASTED FY 2018 REVENUE OF SUPERAUTO24.COM IS AT ABOVE
10
MILLION ZLOTYS AND EBITDA AT AROUND 4.3 MILLION ZLOTYS
    * THE COMPANY WILL ALSO HAVE A CALL OPTION TO BUY THE
REMAINING
SHARES IN SUPERAUTO24.COM, WITH THE PRICE DEPENDENT ON
SUPERAUTO24.COM's EBITDA DYNAMICS 

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM15PW1Sa
    
 Further company coverage:  WPPL.WA  
   


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