Medios AG (XTRA:ILM1) agreed to acquire Ceban B.V. from Bencis Capital Partners B.V. for ?259 million on March 18, 2024. The purchase price for the transaction includes a cash component of ?235.3 million and 1.7 million new Medios shares valued approx. ?23.9 million.

The newly issued shares will be subject to a hard lock-up period of 24 months. The purchase price is financed by Medios from existing cash and an already committed credit facility. The 1.7 million new shares will be issued out of authorized capital against contributions in kind.

Ceban had a preliminary revenue of ?160 million in 2023. The preliminary EBITDA-adjusted amounts to ?29 million in 2023. Ceban will continue to operate under its own brand names.

Ceban?s strong and experienced management team has committed to remain fully involved to further drive growth in already existing markets and in new geographies within Europe. The completion of the transaction is subject to the fulfilment of customary closing conditions. The closing of the transaction is expected for the second quarter of 2024.

Jefferies LLC acted as financial advisor to Ceban. Dirk Besse and Sebastian Schwalme of Morrison & Foerster LLP acted as legal advisors for Medios AG.