01.02.2016
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DGAP-News: net mobile AG: Planned acquisition of Visa Europe Limited through Visa Inc. benefits the company indirectly - positive non-recurring effect expected
DGAP-News: net mobile AG / Key word(s): Forecast
net mobile AG: Planned acquisition of Visa Europe Limited through Visa Inc.
benefits the company indirectly - positive non-recurring effect expected
01.02.2016 / 17:38
The issuer is solely responsible for the content of this announcement.
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CORPORATE NEWS
net mobile AG: Planned acquisition of Visa Europe Limited through Visa Inc.
benefits the company indirectly - positive non-recurring effect expected
Düsseldorf, 1 February 2016 - An assessment completed lets net mobile AG
(ISIN DE0008137852) expect a EUR 17m allotment amount for its subsidiary
net-m privatbank 1891 AG, as a member of Visa Europe Limited, through the
takeover of Visa Europe Limited by Visa Inc. The planned takeover is under
the caveat of authorisation through the appropriate regulating authorities
and is expected to be completed within the coming 5 months.
After the appraisal of current information in regard to the takeover, net
mobile AG assumes that its subsidiary can expect EUR 13m in cash and
approx. EUR 4m in preferred stock of Visa Inc. during the current fiscal
year. These mentioned amounts might be amended depending on transaction
costs as also through the justified objections of members of Visa Europe
Limited. The review of these objections is expected to be completed in
March 2016, resulting in the planned distribution of the determined amounts
as final and binding. The preferred stock becomes fully convertible on the
12th anniversary of Closing, subject only to a holdback to cover any
then-pending claims.
Additionally, an Earn-Out Agreement is in prospect, which would involve a
further payment to net-m privatbank 1891 AG four years after completion,
presuming the acceptance of the agreement and that net-m privatbank 1891 AG
remains a member of Visa for a further four years. The possible accrual is
dependent on the business volume in the area of
"Creditcard-Aquiring-Services".
As the amounts have not yet been finalised and because net mobile AG is in
a sales process regarding the shares in net-m privatbank 1891 AG, the
possible impact of the takeover and the Earn-Out Agreement on the
evaluation and annual earnings of net mobile AG and net-m privatbank 1891
AG are still unknown.
About net mobile AG
net mobile AG is a leading international full-service provider of mobile
value added services and payment solutions. The company, founded in
November 2000, is regarded as an innovation leader in the marketplace.
Clients worldwide include national and global mobile telecommunication
providers, media companies, online shopping portals, brand name companies
and television networks, for which complete white label solutions such as
direct carrier billing and mobile television services are provided. Since
December 2009, NTT DOCOMO, INC. is the main shareholder with over 87% share
ownership. For more information please visit www.net-mobile.com.
If you have any further questions, we will be most happy to help. We will
gladly establish a direct contact to the responsible person at net mobile
AG.
Contact person net mobile AG
Dennis Heisig
Press Officer
net mobile AG
Fritz-Vomfelde-Str. 26-30
DE 40547 Dusseldorf
Tel: +49 (0) 211 970 20 - 344
Fax: +49 (0) 211 970 20 - 999
E-Mail: [email protected]
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01.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: net mobile AG
Fritz-Vomfelde-Str. 26-30
40547 Düsseldorf
Germany
Phone: +49 (0)211 970 20-0
Fax: +49 (0)211 970 20-999
E-mail: [email protected]
Internet: www.net-mobile.com
ISIN: DE0008137852
WKN: 813785
Listed: Regulated Unofficial Market in Berlin, Hamburg, Munich
(m:access), Stuttgart; Open Market in Frankfurt
End of News DGAP News Service
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