CR ESPI 21/2021 – Execution of a Term Sheet Agreement for the acquisition of a factoring entity

The Management Board of Aforti Holding S.A., with its registered office in Warsaw, hereinafter referred to as the “Company” or the “Issuer”, in reference to ESPI Current Report No. 17/2021 dated 3 March 2021, informs that today, i.e. 24 March 2021, the preliminary non-binding offer for the purchase of a factoring company operating on the Croatian market (hereinafter referred to as the “Factor”) was accepted and the Parties entered into a Term Sheet Agreement on, inter alia, the following terms and conditions:
– the parties will work together to obtain the approval of the Croatian regulator to conclude the transaction,
– the Selling Party and the Factor shall act in the best interest of the Company and shall not materially change its business,
– all credits and loans of Faktor shall be repaid by the time of conclusion of the share purchase agreement

The Issuer has indicated the book value of Factor’s equity plus a negotiated EBITDA multiplier as the settlement price for the acquisition of up to 100% of the shares.

The signing of the Term Sheet Agreement by both parties to the transaction constitutes the beginning of the process of negotiating the final Share Purchase Agreement (SPA). The preliminary date for concluding the completion of the transaction is scheduled for 30 August 2021.

The acquisition of the entity from the Croatian market is aimed at joint achievement of the effect of synergy and obtaining the best possible economic results from the conducted investment project.

Legal basis: Article 17 paragraph 1 of the MAR – confidential information

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