International Holding Company PJSC completed the acquisition of a 55% stake in Easy Lease Motorcycle Rental LLC for approximately AED 120 million.
International Holding Company PJSC (ADX:IHC) completed the acquisition of a 55% stake in Easy Lease Motorcycle Rental LLC for approximately AED 120 million on March 18, 2020. Under the term, International Holdings Company PJSC will pay AED 100 million in cash and and a contingent payment of AED 18 million if Easy Lease achieves a minimum net profit of AED 24.5 million during the year ending December 31, 2020. The board of International Holdings Company approved the deal.