Mutares SE & Co. KGaA (XTRA:MUX) signed an agreement to acquire Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. from Eltel AB (publ) (OM:ELTEL) in a transaction valued at ?25 million on April 10, 2024. This is a platform transaction. As of 2023, Eltel Networks Energetyka S.A.and Eltel Networks Engineering S.A. reported net sales of ?36 million and EBITA of negative ?4.9 million. The transaction is estimated to have a negative cash flow effect of ?3.75 million and a net negative ?23.5 million on Group EBIT. The transaction is is subject to customary regulatory approval and is expected to close during Q2, 2024. Magdalena Nasilowska, Marta Sendrowicz, and Piotr Szczecinski of Allen & Overy acted as legal advisor to Mutares. Stephen Horvath, Andrzej Wysokinski, Maciej Pietrzak, and Agnieszka Stopinska acted as legal advisor and Tod Kersten, Mateusz Prudzynski, and Krzysztof Cecuga of DC Advisory acted as exclusive financial advisor to Eltel.

Mutares SE & Co. KGaA (XTRA:MUX) completed the acquisition of Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. from Eltel AB (publ) (OM:ELTEL) on June 7, 2024.