Epsilon Net S.A. and Space Hellas S.A. entered into a sale agreement to acquire 99.6% stake in SingularLogic S.A from Marfin Investment Group Holdings S.A. for €18.1 million

Epsilon Net S.A. (ATSE:EPSIL) and Space Hellas S.A. (ATSE:SPACE) entered into a sale agreement to acquire 99.6% stake in SingularLogic S.A from Marfin Investment Group Holdings S.A. (ATSE:MIG) for €18.1 million on November 27, 2020. The consideration includes the consideration for the transfer of the shares and the consideration for the transfer of the loan liabilities of SingularLogic towards Piraeus Bank. An advance payment of €1.81 million has been paid and the remainder of the consideration will be paid on the completion of the transaction.

The completion of the transaction will take place after the conducting of a confirmatory legal and audit due diligence by Epsilon and Space and the approval of the transaction by the competent bodies of Marfin. As on December 30, 2020, the due diligence is completed and the deal will close on January 11, 2021. Euroxx Securities acted as financial advisor for Marfin.