Brief: 2MX Organic and InVivo Enter Into A Final Business Combination Agreement

Teract SA

10/06/2022 06:37

June 10 (Reuters) - INVIVO AND 2MX ORGANIC SA  2MX.PA :
    * HAVE ENTERED INTO A FINAL BUSINESS COMBINATION AGREEMENT
FOR THE
CREATION OF A DURABLE, ALTERNATIVE AND SUSTAINABLE EUROPEAN
DISTRIBUTION LEADER
    * THE EXCLUSIVE NEGOTIATIONS BETWEEN 2MX ORGANIC AND INVIVO
WHICH
STARTED AT THE END OF MARCH HAVE BEEN SUCCESSFULLY CONCLUDED 
    * THIS BUSINESS COMBINATION WOULD MAKE INVIVO RETAIL A 100%
SUBSIDIARY OF 2MX ORGANIC, OF WHICH THE INVIVO GROUP WOULD
BECOME THE MAJORITY SHAREHOLDER WITH AT LEAST 59,76% OF THE
SHARE CAPITAL AND VOTING RIGHTS 
    * THE IMPLIED PRO FORMA ENTERPRISE VALUE OF 2MX ORGANIC POST
COMPLETION OF THIS TRANSACTION WOULD AMOUNT TO EUR 1,030 MILLION
    * COMBINATION WILL ALLOW TO ESTABLISH A CLEAR PATH FOR
GROWTH,
WITH IN VIVO RETAIL’S TURNOVER INCREASING FROM 867 MILLION EUROS
IN 2021 TO AROUND 1.2 BILLION EUROS IN 2025 AND AN ADJUSTED
EBITDA PROGRESSING FROM 99 MILLION EUROS IN 2021 TO
APPROXIMATELY 140 MILLION EUROS IN 2025 

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nNDL1KdlNg
 Further company coverage:  2MX.PA  

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