Lifa Air Oyj (HLSE:LIFA) signed a conditional agreement to acquire a 86.4% stake in Genano Oy Ab from Mikael Rentto and Rentto Oy for ?2.26 million on October 5, 2023. The arrangement will be carried out in such a way that Lifa Air directs a share issue to the Principal Owners, in which a total of 7,207,319 new Lifa Air shares will be issued. The ownership share of the main owners of all Lifa Air shares will be approximately 41.4% in total, and the ownership share of the shareholders who own Lifa Air shares at the time of implementation of the Arrangement will be approximately 58.6% of all Lifa Air shares after the implementation of the Arrangement. Mikael Rentto directly owns approximately 34.08% of Genano's shares, in addition to which his controlling company Rentto Oy owns approximately 52.34% of Genano's shares. Following the transaction, Rentto Oy owns 23.6% and Mikael Rentto owns 15.3% in Lifa Air. Lifa Air also intends to make a share exchange offer to Genano's minority shareholders, who own a total of approximately 13.6% of Genano's shares, the terms of which essentially correspond to the terms of the Arrangement. In connection with the implementation of the arrangement, Lifa Air's business name is proposed to be changed to Anoair Oyj. In related transaction, Rentto Oy has agreed to acquire the entire share capital of Kiinteistö Oy Rajamaankuja 6 from Lifa Air for ?2 million. Genano Oy has total equity of ?2.439 million, total debt of ?3.380 million and cash of ?0.382 million as of June 30, 2023. The implementation of the arrangement is conditional, among other things, on the approval of Lifa Air's extraordinary general meeting and sufficient share issuance authorizations granted by it, the approval of Genano's financiers, the satisfactory completion of due diligence checks for both Lifa Air and Genano, and Nasdaq Helsinki Oy accepting Lifa Air 's new the listing of the shares and the fact that Genano's minority shareholders do not exercise their redemption right according to Genano's articles of association and implementation is expected to take place in October 2023. Aktia Alexander Corporate Finance Oy acts as Lifa Air's financial adviser in connection with the Arrangement. Lifa Air's legal advisor is Attorney Castrén & Snellman Oy and Rentto Oy's legal advisor is Kalliolaw Attorney General Oy.

Lifa Air Oyj (HLSE:LIFA) completed the acquisition of 86.4% stake in Genano Oy Ab from Mikael Rentto and Rentto Oy on November 1, 2023.