Yesterday, Telekom Slovenije signed a share purchase agreement with DBA S.p.A., for the purchase of a 100% stake in ACTUAL.
Telekom Slovenije has announced that it has reached an agreement for the purchase of ACTUAL I.T., with DBA S.p.A. This was made in the form of a share purchase agreement (SPA) for 2,040,275 shares, which represents a 100% stake in ACTUAL.
The signing of the agreement took place yesterday, 28 March 2022, and the anticipated completion of the transaction shall occur within the next six months. The agreement shall be concluded when several conditions are met. This includes the enterprise value of ACTUAL (on 31 December 2021), the estimated value of its indebtedness, the estimated amount of available cash, and the estimated value of the difference between the working capital and the estimated target working capital, all of those as per date of the completion of the transaction. These parameters will also be subject to an agreed adjustment mechanism, which is to be completed within 60 business days following the date of the completion of the transaction.
The agreed enterprise value of ACTUAL (on 31 December 2021) amounts to EUR 30m. If all the above-mentioned parameters were taken into account, the purchase price on 31 December 2021 would amount to EUR 20,627,000. This acquisition is in line with the adopted strategic business plan of Telekom Slovenije and represents a new milestone in the implementation of that strategy. The acquisition will strengthen the position of Telekom Slovenije in the Slovenian ICT market and will drive important synergies that will set the foundations for further development.