Fuel and toll payments company Eurowag said it was buying the remaining 30% Sygic it does not already own for €14.4m.
Eurowag in 2019 bought a 70% equity interest in Sygic with a put and call option mechanism on the remaining 30% minority interest in April 2024.
In line with calculation under the original option structure, the price consists of €10.8m for the 30% minority interest and €3.6m for the current net cash attributable to minority shareholders and expected accumulated cash until April 2024 due to minorities.
Reporting by Frank Prenesti for Sharecast.com
