(Finance) – Multiply Group has signed today, through a company of newly controlled newly controlled (“Newco”), a binding agreement with some companies controlled by continuation.
VERIVOX Holding GmbH and the respective subsidiaries (jointly “VERIVOX”), one of the main operators in the German market of online comparison and intermediation.
The overall price agreed for the operation, reads a note, is equal to € 231.5 million in terms of equity value, on the basis of a net financial position as of 30 June 2024 equal to € 6.5 million in net cash.
At the time of the execution of the agreement, scheduled for today’s day, Newco will take debts against Verivox – generated by a cash pool ratio – for Euro 53.9 million, and will take over in a membership loan against Verivox for € 13.7 million, whose inconsisers will be compensated for closing with the price agreed for the operation.
The net amount will be paid through the resources deriving from the financing contract referred to in Multiply press release of March 20, 2025 and liquid availability already existing. The agreements for the operation also include an Earn-out up to Euro 60 million determined on the basis of the economic results of Versivex in 2025.
The pre -concground results of Versive for 2024 project revenues for about € 185 million and an ebitda of approximately € 34 million, having benefited from particularly favorable market conditions.
Following the improvement of the operation, Verivox will be an integral part of Mavriq.