CDON AB (OM:CDON) acquired 56% stake in Xales Tech Lab Oy from Ostro 17 Oy and Virta Growth Partners Oy approximately 0.4 million.
December 28, 2021
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CDON AB (OM:CDON) acquired 56% stake in Xales Tech Lab Oy from Ostro 17 Oy and Virta Growth Partners Oy for approximately 0.4 million on December 29, 2021. In a related transaction, CDON AB (OM:CDON) acquired 71.7% stake of Commerce 8 Oy from Ostro 17 Oy for approximately 0.18 million on December 29, 2021. CDON acquired existing shares in Xales from Ostro 17 Oy and Virta Growth Partners Oy amounting to approximately 0.4 million, of which 0.1 million was paid in cash and 0.3 million with CDON shares. Furthermore, CDON invested EUR 0.3 million in cash in a directed issue of new shares in Xales. CDON now holds 56% of the total number of shares in Xales. CDONs aggregated investment amounts to approximately 0.7 million. CDON has been granted a call option to acquire the remaining shares from Ostro 17 Oy and Virta Growth Partners Oy at a pre-determined valuation. Part of the acquisition of Xales will be paid by a directed issue of 6,156 CDON shares to Ostro 17 Oy and Virta Growth Partners Oy, corresponding to a dilution of 0.10% based on the total amount of shares in CDON after the directed issue.
CDON AB (OM:CDON) completed the acquisition of 56% stake in Xales Tech Lab Oy from Ostro 17 Oy and Virta Growth Partners Oy on December 29, 2021.
Cdon AB is a Sweden-based company that offers the online marketplace. On CDON.com, external merchants sell their products to Nordic consumers. Customers can choose to shop and compare prices on products. The company develops the offer for merchants so that they can have access to technical support for pricing, product enrichment, integrations with other service providers and support for reporting and analysis. The company's operations are divided into two operating segments: the core area CDON Marketplace, whose sales come from third-party sellers and other service revenue, and the complementary business area CDON Retail, whose sales are made directly by CDON via its own warehouse or dropshipment.