Completion of Globetech acquisition

Nekkar ASA has today successfully completed the acquisition of a 67 percent ownership share of fast-growing and profitable maritime connectivity and digital service provider Globetech AS.

Reference is made to the stock exchange announcement dated 3 July 2024 regarding the two-stage transaction which by 2027 secures 100 percent ownership of Globetech.

In the first stage, Nekkar has acquired 67 percent ownership of Globetech. The share purchase for the 67 percent ownership share has been settled by NOK 66 million in cash, including a locked-box interest amount, and NOK 15 million in Nekkar ASA shares. The cash-based consideration has been covered by Nekkar’s solid cash balance, while the share-based consideration has been settled by transfer of 1.482.550 of Nekkar’s treasury shares.

Following completion of this transaction, Nekkar holds a total of 1,320,983 own shares, corresponding to 1.23 percent of the shares in the company.

In 2027, Nekkar will acquire the remaining 33 percent of outstanding shares in Globetech. The consideration will be settled in cash based on a multiple of achieved EBITDA in 2027.