5th Apr 2017 09:54
Market Tech Holdings Limited
("Market Tech" or the "Company")
Acquisition of remaining Glispa stake
5 April 2017: Further to its announcement dated 16 March 2015 regarding the acquisition of a controlling interest in Glispa GmbH ("Glispa"), a Berlin-based mobile marketing business, Market Tech (LSE: MKT) announces that the put option has now been exercised in accordance with the terms of the original transaction and that the Company will therefore now acquire the remaining 25% interest in Glispa for €15 million in cash. The acquisition is expected to complete in the coming weeks.
ENDS
For further information, please contact:
FTI Consulting
Richard Sunderland
Claire Turvey
+44 (0) 20 3727 1000
About Market Tech
Market Tech combines the iconic Camden Market real estate assets with digital technology to deliver a living, working, retail and leisure environment. The Company owns approximately 16 acres of real estate assets in Camden, including the Stables Market; Union Street Market, (also known as Buck Street Market); Camden Lock Market; and Hawley Wharf, (formerly known as Camden Lock Village). It also owns separate real estate assets on Camden High Street; Kentish Town Road; properties on Jamestown Road, (including the Camden Wharf Building); The Interchange Building on Oval Road, Utopia Village in Primrose Hill, 1-11 Hawley Crescent and 49 Chalk Farm Road.
The Company owns three e-commerce businesses, referred to as Market Tech Digital. These are Stucco Media, an e-commerce marketing platform, Glispa, a Berlin-based mobile marketing business and Fiver, a B2C online fashion retailer.
www.market-tech.com
Related Shares:
MKT.L