Carel Industries SpA M&A Call Transcript
Good afternoon and thanks for joining our call for the presentation of the acquisition of Kiona. We are really excited to present this opportunity as we believe it represents a key strategic milestone in our growth journey, fully consistent with our strategy of developing digital services and as we will see perfectly fits in to complement our system solution. This is indeed a company with unique characteristics and significantly strengthens our position.
And first, starting from page 2, to present the key highlights of the transaction, we signed yesterday a binding agreement to purchase 82.4% of the share capital of Kiona with an implied enterprise value of NOK2.35 billion or approximately EUR210 million.
Several key shareholders of Kiona decided to reinvest in the company. The reinvesting shareholders are the Founder and CEO, Trond-Ãystein Bjørnnes, that we have been personally knowing and admiring for many years then some key employees and two Norwegian early financial investors in the company. They decided to maintain a
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