VNV Global exits Gett for USD 89.1 million

VNV Global AB (publ) (“VNV Global”) today announces that it has entered into a stock purchase agreement to fully exit its investment in Gett, for a total net consideration of approximately USD 89.1 million.
 
Following VNV Global’s press release on May 21, 2025, stating that the previously announced Gett transaction would not proceed to closing, VNV Global, together with the other existing shareholders in Gett, resumed discussions regarding alternative transaction structures with an investor consortium primarily composed of Israel-based investors. These discussions have now resulted in the signing of a stock purchase agreement, based on the previously negotiated transaction, with said investor consortium.
 
Under the amended terms of the transaction, VNV Global will receive approximately USD 86.7 million in connection with closing which will occur early next week. The remaining USD 2.5 million will be held in escrow (the “Escrow Amount”) as part of the buyer’s protection under the stock purchase agreement. The Escrow Amount will be released to VNV Global in full following the second anniversary of the closing of the transaction.
 
With the increased liquidity, VNV Global is considering repurchase and/or redemption of its outstanding bonds 2024/2027 (in full or in part), including reviewing its possibility to utilize its special right to redeem the bonds due to a completion of the Gett transaction in accordance with the terms and conditions of such bonds, and/or undertaking a voluntarily tender offer for part of the outstanding bonds.
 
VNV Global also expects to increase its investment activity going forward, including initiating new buy-backs of ordinary shares in accordance with the mandate resolved by the AGM in May 2025.