Home world Sale of Novabase Business to Vinci May Generate 12-15 Million Capital Gain

bannerebay

Sale of Novabase Business to Vinci May Generate 12-15 Million Capital Gain

by ace
Sale of Novabase Business to Vinci May Generate 12-15 Million Capital Gain

The company led by João Nuno Bento (pictured) announced earlier this week that it will sell its "application and data analytics" business to the Government, Transport and Energy (GTE business) to Vinci Energies, present in Portugal with the Axians brand for 33 million euros, which could add 3 million euros, depending on the final performance.

Today in new announcement to the CMVMAt the request of the capital market regulator, Novabase provided additional clarification, underlining that the capital gain should be between 12 and 15 million euros.

Novabase clarifies that under this purchase contract, "due to the positive or negative price adjustment clauses agreed by the parties, it is not possible at this time to estimate precisely the final consideration that may be obtained from the transaction. , and thus the added value that will come with the conclusion of the same ".

But there is a calculation already made: "without prejudice to the foregoing, it is estimated that the capital gain could be between 12 and 15 million euros, disregarding the impact, unpredictable at the present date, of the positive and negative constraints of final counterpart ".

The company "reiterates that (…) the greatest relevance of the transaction lies in the release of funds obtained from it for the purposes of Strategic Update 2019+ released to the market on July 25, 2019."

In the information provided on November 4, the company announced that this sale will be made through the sale of the shares representing the entire share capital of Novabase Digital, as well as through the transfer of the economic value and employees assigned to the GTE Business who are in other group companies.

According to the information disclosed, "the purchase and sale will take place in the coming months, subject to verification of a set of customary suspensive conditions in this type of operation, including non-opposition by the Competition Authority."

"The agreed price is 33 million euros, to be paid on the transaction date, subject to adjustments, under the terms of the contract. To this value may add a potential earn-out of 3 million euros, depending on the performance end of the GTE Business to be verified in 2019, "said the statement.

The GTE Business currently employs close to 400 employees and represented a turnover of 35 million euros in 2018.

(news updated at 22:20)

. (tagsToTranslate) Vinci (t) Novabase (t) João Nuno Bento (t) Axians (t) Portugal

bannerebay

DIVIDER1

Related Articles

Leave a Comment

5 − five =

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Top Services Available: Try Amazon HomeClose