LINK Mobility Group Holding ASA (OB:LINK) signed a non-binding term sheet to acquire SOPRANO Design Pty Ltd. from Ht&E Digital Pty Ltd, Richard Favero and family for approximately AUD 530 million on May 18, 2021. LINK Mobility Group Holding ASA shall pay AUD 139 million to HT&E Digital Pty Ltd. Under the terms, purchase consideration will be settled with 95% shares being 88,706,339 shares and 5% in cash totaling AUD 25 million in cash. The founder and majority shareholder is highly committed to become a long-term investor and will continue to run the Soprano footprint. The transaction is subject to customary due diligence and conditions for completion, including approval by buyer’s shareholders in an extraordinary general meeting and the issued shares will be subject to a lock-up period of up to 18-months with a gradual release of 3 million shares per month per shareholder from 6-months after closing of the transaction. Agreement is planned to sign on July 1, 2021 and completion is expected to take place during second half of 2021. Macquarie Group Services Australia Pty Limited acted as financial advisor to Ht&E Digital Pty Ltd. LINK Mobility Group Holding ASA (OB:LINK) cancelled the acquisition of SOPRANO Design Pty Ltd. from Ht&E Digital Pty Ltd, Richard Favero and family on September 19, 2021.