Cellularline S.p.A. (BIT:CELL) signed the binding agreement to acquire 60% stake in Peter JÄCkel Kommunikationssysteme Gmbh for €3.05 million on December 23, 2022. The consideration will be paid upon closing; during the first half of 2023, following the approval of the 2022 financial statements of Peter Jäckel GmbH, any price adjustment will be paid. This possible adjustment will be determined on the basis of an adjustment mechanism that takes into account the final net financial position and net working capital at the end of the year. This consideration will be financed through the use of a credit line exclusively intended for M&A transactions, already signed with Banco BPM and Intesa Sanpaolo. In 2021, Peter Jäckel GmbH developed a Turnover of €9.4 million with a net result of €1.42 million. To this end, Cellularline has agreed on an incentive mechanism through incremental valuations over the three-year period 2023-2025, in which the parties will have the right to exercise Put&Call options on the minority stake totaling 40%, divided into two tranches. The amount to be paid for each tranche will be calculated taking into account the economic and financial parameters recorded by Peter Jäckel GmbH during the years 2024 and 2025. The transaction is expected to close in first days of 2023.

Cellularline S.p.A. (BIT:CELL) completed the acquisition of a 60% stake in Peter JÄCkel Kommunikationssysteme Gmbh on January 11, 2023. Laura Christin Stein and Dr. Malte Bruhns of CMS Hasche Sigle Partnerschaft von Rechtsanwälten und Steuerberatern mbB acted as legal advisor to Peter JÄCkel Kommunikationssysteme. Ernst & Young Corporate Finance Beratung GmbHacted as financial advisor and due diligence provider to Peter JÄCkel Kommunikationssysteme Gmbh.