LINK Mobility Group Holding ASA (OB:LINK) to launch a mandatory offer to acquire the remaining 18.6% stake in AMM S.p.a. (BIT:AMM) for 3.5 million on April 26, 2021. Under the offer, Offeror will acquire 1.452 million shares of AMM at a price of 2.4 per share. In a related transaction, LINK Mobility Group Holding ASA entered into an agreement to acquire a 81.4% stake in AMM S.p.a. from founders of AMM and others for 15.2 million on April 26, 2021. In a related transaction, the sellers of AMM under the agreement have agreed to subscribe for new shares in LINK at a subscription price per share equal to the volume weighted average price per share of the last 5 trading days prior to the closing date, for an amount equal to 40% of the purchase price received by the sellers under the agreement. The shares will be subject to lock-up for a 6-month period after closing of the transaction. Post completion of both the acquisition transactions, Offeror will hold 100% stake in AMM. Post completion of transactions, Offeror aims to delist AMM from an exchange. The transaction is expected to be completed by July 13, 2021. AGP Advokater AS and Dla Piper Italy Services Srl acted as legal advisors to LINK.
LINK Mobility Group Holding ASA (OB:LINK) completed the acquisition of the remaining 18.6% stake in AMM S.p.A. (BIT:AMM) on July 13, 2021. LINK Mobility Group Holding ASA will exercise the squeeze-out right for the remaining shares.