GEDI Gruppo Editoriale S.p.A. and MotorK plc (ENXTAM:MTRK) agreed to acquire 80% and 20% stake respectively in the combined entity resultant of the merger of DriveK and Autoxy S.P.A. on October 18, 2022. The transaction will unlock substantial synergies potential, leveraging respective longs-standing relationships with major OEMs, coupled with marketing savings and sharing of best practices. As part of the contemplated agreement, both parties will benefit inter alia from mutual liquidity provisions, usual for this kind of transaction. The transaction is expected to complete by year-end 2022. MotorK was supported by Alvarium MB (UK) Limited as Corporate Finance advisor, with a team led by Associate Partner Federico Lonoce. Eversheds Sutherland acted as legal advisor to MotorK plc (ENXTAM:MTRK).
Autoxy S.P.A. completed the acquisition of 80% stake in MotorK Italia s.r.l. from MotorK plc (ENXTAM:MTRK) on December 15, 2022.