MOTORK REMAINS A 20% MINORITY SHAREHOLDER, UNLOCKING SUBSTANTIAL SYNERGIES POTENTIAL AND LEVERAGING SHARING OF BEST PRACTICE
MotorK confirms today further to its announcement on the 18th of October 2022, that it has completed the transaction of its B2C business unit DriveK to GEDI Gruppo Editoriale and its wholly owned subsidiary AutoXY, in accordance with its strategy communicated at the time of the IPO. MotorK will remain a 20% minority shareholder with the view to contributing to the new combined entity and benefiting from expected future value creation.
The new marketplace born from the combination of DriveK and AutoXY will provide consumers with a state-of-art platform to select, compare and configure their next new car in Italy, France, Spain and Germany. The transaction unlocks substantial synergies potential, leveraging respective longs-standing relationships with major OEMs, coupled with marketing savings and sharing of best practices.
MotorK was supported by Alvarium as Corporate Finance advisor and by Eversheds Sutherland as Legal advisor.