Ovs-Goldenpoint, binding settlement signed. The choice to extend to 100% by 2029 | EUROtoday

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Ovs has signed the binding funding settlement in Goldenpoint spa, an underwear, swimwear and hosiery firm with 100 million euros in revenues. The settlement follows the letter of intent filed in February 2024 and gives for an preliminary funding of three million euros meant to subscribe to a convertible bond mortgage and the acquisition of three% of the share capital of Goldenpoint.

Ovs' plan envisages attaining management of the corporate in a number of phases with the choice of accelerating possession to 100% within the subsequent 5 years or so: by 31 July 2025, OVS could have the fitting to extend to 51% of the capital by changing the mortgage and exercising a share buy choice in opposition to the cost of a predetermined value, additionally payable in treasury shares. Subsequently, the group led by Stefano Beraldo will have the ability to purchase the remaining 49% via the train of put&name choices, in a time window between 1 August 2026 and 31 July 2029. The associated valuation shall be primarily based on a a number of of the Ebitda in step with the present OVS multipliers, from which the online monetary place is subtracted.

Ovs, which already operates within the underwear and beachwear phase with a market share of seven.4%, goals to develop Goldenpoint – each when it comes to revenues and Ebitfda, with a “good contribution to the consolidated results”, we learn in a observe – with a stronger business provide and with an funding within the community of shops which at present quantity 380.

The Veneto group, which closed its monetary statements on January 31, communicated the preliminary information a number of weeks in the past: 2023 closed with gross sales growing by 1.4% with the identical floor space, and the adjusted ebitda barely growing in comparison with 180.2 million euros in 2022.

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https://www.ilsole24ore.com/art/ovs-goldenpoint-siglato-l-accordo-vincolante-l-opzione-salire-100percento-entro-2029-AFsneKID