(Finance) – e-noviaa company listed on the professional segment of Euronext Growth Milan and activates on robotics technologies and for the sustainable mobility market, has signed a binding agreement for the sale of the entire participation detained in the share capital of Blubrakeequal to 53.57% of the share capital.
The agreement, which is inherent in the context of a wider operation of Blubrake’s recapitalization, provides for the sale of participation in favor of a pool of investors, in addition to the reimbursement of a credit claimed by E-Novia against Blubrake. The closing of the operation is expected within the first half of 2025. The operation will allow e-novia of collect resources for a total of 2.3 million euros.
Blubrake is a company specialized in the development of anti-lock braking systems (ABS) for electric bicycles (e-bike) and electric cargo bikes. At 31 December 2023 Blubrake recorded revenues For 1,639,395 euros, a Ebitda equal to -1,618,330 euros and one Pfn equal to 5,676,310 euros.
“The transfer of this participation is part of the wider path of negotiated composition of the crisis (CNC) undertaken by e -novia, allowing us to optimize resources, strengthen our focus on highly added value solutions and accelerate our development path in the field of intelligent mobility and robotics – commented theTo Massimiliano Benci – This operation represents a further step towards sustainability and relaunch of our industrial model in a highly competitive market “.
Separately, E-Novia has communicated that The 66.4% controlled company Blimp filed the application for access to the negotiated composition of the crisis (CNC). This choice was necessary due to the situation of economic-financial and patrimonial imbalance of Blimp, and the CNC tool represents the most suitable solution to the renovation of the company.
As of December 31, 2023 Blimp recorded revenues for 1,418,619 euros, an Ebitda equal to -557,453 euros, with a net loss of -938,767 euros and a clear financial position (net debt) equal to 1,778,744 euros. For the sole purposes of the deposit, an economic-patrimonial situation has been attached to the plan as of December 30, 2024, of a management nature and not subject to auditing, from which a loss of approximately 1.9 million euros emerges. The credit boasted by e-novia With regard to Blimp, equal to 1.2 million euros to 30 December 2024, it was considered for the purpose of the financial maneuver contained in the Blimp resting plan project which provides for the conversion of the E-Novia credit to the share capital of the subsidiary, conditioned compared to the success of the CNC.