AZB & Partners acted for Gruppo Mutuionline S.P.A on the acquisition of 100% share capital of three group entities
Gruppo MutuiOnline" or "GMOL acquired 100 % share capital of three group entities viz., Preminen Price Comparison Holdings Limited, Rastreator.com Limited, LeLynx SAS and business acquisition of the branch office located in India.
GMOL signed a binding agreement with ZPG Comparison Services Holdings UK Ltd and with its subsidiary Penguin Portals Ltd (the "Sellers"), both part of the RVU Group ("RVU"), concerning (i) the acquisition by GMOL of 100% of the share capital of Rastreator.com Ltd and Preminen Price Comparison Holdings Ltd. and their subsidiaries, (ii) the grant by GMOL to the Sellers of a put option on 100% of the share capital of LeLynx SAS, exercisable pursuant to articles L 23-10-1 and 23-10-7 of the French Code de Commerce (iii) the transfer to one of the entities of the perimeter acquired by GMOL of the IT excellence center with headquarters in India currently at the service of the companies interested by the transaction, with the transfer of a company branch from Inspop.com Limited (the "Transaction").
The main assets of the group of companies involved in the Transaction are the Rastreator.com, LeLynx.fr, and Rastreator.mx portals, which represent leading operators in the sector of the online comparison and intermediation of insurance products in Spain, Mexico and France. The agreed price for the entire perimeter of the Transaction is equal to an enterprise value of Euro 150 million, adjusted by the expected net cash at the time of closing, which is expected to take place in the first days of 2023.
The Transaction has been approved by the respective boards of directors of the Sellers and of GMOL and it is subject to customary regulatory approvals.
The total consideration of the transaction is Euro 150 million/ approx. INR 12 billion / USD 150 million.
The team from AZB & Partners comprised of Partners - Roxanne Anderson and Gautam Ganjawala; Counsel - Vivek Pillai and Senior Associate - Rashmee Kumar.