Chimprop 2 Investment SPV RSC Ltd signed definitive agreements to acquire 21.7% stake in MNT Investments B.V. from GB Auto (S.A.E.) and other shareholders.

Chimprop 2 Investment SPV RSC Ltd signed definitive agreements to acquire 21.7% stake in MNT Investments B.V. from GB Auto (S.A.E.) (CASE:AUTO) and other shareholders on October 27, 2022. GB Auto is selling a 7.5% stake in MNT Investments B.V., with total proceeds of $60 million, with an earnout component that could potentially lead to total proceeds of $71.3 million, should the earnout component come into effect. The sale reduces GB Auto?s indirect ownership in MNT Investments to 49.5%.

On November 20, 2022, BOARD APPROVES TO SELL 7.5% STAKE IN MNT INVESTMENTS B.V. Jade Chu,Carmelo Gordian, Caitlin McPhee, Omar Morsy, Rachel Treasure, and Helene Zotiades of Shearman & Sterling LLP acted as legal advisor to Chimera Investments LLC.