LINK Mobility Group Holding ASA (OB:LINK) 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.

LINK Mobility Group Holding ASA (OB:LINK) entered into an agreement to acquire a 81.4% stake in AMM S.p.a. (BIT:AMM) from founders of AMM and others for €15.2 million on April 26, 2021. As a part of transaction, LINK has agreed to acquire 6,351,815 shares in AMM for €2.4 per share in cash. In a related transaction, the sellers of AMM 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 transaction.

The shares will be subject to lock-up for a 6-month period after closing of the transaction. Post completion of transaction, LINK to launch a mandatory offer for the remaining 18.6% stake of AMM at €2.4 per share and a voluntary offer for 146,475 outstanding warrants in AMM at €0.80 per warrant. The transaction is subject to customary conditions for completion.

The transaction is planned to close during May 2021. AGP Advokater AS and Goffredo Guerra, Goffredo Guerra, Francesco Maria Aleandri and Stefano Montalbetti of Dla Piper Italy Services Srl acted as legal advisors to LINK. Nctm Studio Legale acted as legal advisor to the sellers having majority participation in the share capital of AMM.