(Alliance News) - Moltiply Group Spa announced Thursday that its Mavriq Division has signed binding agreements to acquire a leading online comparison and brokerage operator in the Netherlands.

Mavriq, the newly formed institutional brand that brings together Moltiply Group's brands active in online comparison and brokerage of products and services, has signed a binding agreement with Pricewise Group BV aimed at acquiring, from founding partner Hans de Kok and private investors, 80 percent of Pricewise's shares.

The agreed entreprise value for 100% of Pricewise's shares is EUR25.0 million and the purchase will be financed through cash and/or use of already available credit lines.

Pricewise is an incumbent operator in the Netherlands, among the leaders in online comparison and brokerage of energy, telecommunications and insurance contracts through pricewise.nl. It had consolidated revenues of EUR10.9 million in 2023, with an Ebitda of EUR2.9 million.

"By expanding in the Netherlands, Mavriq strengthens its international presence, thereby continuing to pursue its mission to help more consumers untangle the evaluation and purchase of a wide variety of products and services," Maviq points out in a note.

Moltiply Group closed Wednesday in the green 2.9 percent to EUR37.15 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.