VNV Global provides update on the expected closing of the ongoing Gett Transaction
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Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Finans |
| Industri | Investeringar |
VNV Global AB (publ) (“VNV Global”) today announces an update regarding the expected closing of the ongoing sale of Gett (the “Transaction”). The Transaction was originally announced on May 9, 2024 with an expected closing planned for H2 2024, subject to applicable regulatory approvals and other customary closing conditions.
Following the most recent interaction with the Israel Competition Authority (the “ICA”), which is currently reviewing the Transaction, VNV Global now expects the closing to take place in Q1 2025, subject to the ICA completing its review.
Since the Transaction was announced, Gett has continued to perform well and is on track to close 2024 with gross bookings exceeding USD 500 mln (representing 5% year-on-year growth), an EBITDA of approximately USD 13 mln, and cash and cash equivalents exceeding USD 50 mln, with no debt on its balance sheet. The outlook for 2025 also remains positive, with expectations of continued top-line growth and further improvements in profitability.
For further information please contact:
Björn von Sivers, CFO
Telephone: +46 8 545 015 50
Email: bjorn@vnv.global
About Us
VNV Global brings together patient capital and network effect businesses to achieve the scale that drives profitability over the long term. We are opportunistic investors in business models that build strong moats. The common shares of VNV Global are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV. For more information on VNV Global, visit www.vnv.global.
This information is information that VNV Global AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-11-29 08:00 CET.