Spur Corporation Ltd acquired 60% stake in Doppio Group from Paul Christie and Miki Milovanovic for SAR 70 million.
Spur Corporation Ltd completed the acquisition of 60% stake in Doppio Group from Paul Christie and Miki Milovanovic for SAR 70 million on December 1, 2023. Under the terms of agreement, the purchase consideration for 60% of the Target Business is estimated at R70 million and will be settled in cash, but is subject to various adjustments depending on the value of certain assets and liabilities as at the effective date. The Doppio Group employs approximately 669 employees and it is intended that all employees will be retained within the Target Business. The acquisition is now unconditional.