Glaspoort B.V. agreed to acquire 50% stake in Glasdraad B.V. from TINC NV (ENXTBR:TINC) on April 17, 2023. The transaction has a positive contribution to the cash position of TINC of approximately ?40 million. Combined with ?60 million of bank credit lines (available since April 2023), TINC has now approximately ?100 million of additional funding to meet outstanding contractual investment commitments and for new additional investments.

The transaction is subject to customary conditions precedent including approval by the Dutch competition authority. As of May 17, 2023, the transaction was approved by the Dutch competition regulator ACM. Tim Boer, Michel van Neer and Roel Jongejan of ING Corporate Finance acted as sole financial advisor to Glaspoort B.V. Diederik Schrijvershof, Brinkhof Advocaten and Adriaan Craita of Maverick Advocaten acted as legal advisor to Glaspoort B.V.