VNV announces that, despite extensive efforts to complete the sale of Gett, the transaction will not proceed to closing. This is not entirely unexpected, in our view, as the company has indicated that the process was taking longer than expected and VNV was prepared to remain a shareholder of Gett. We had viewed the sale of Gett as a potential positive trigger for the case, enabling VNV to reach a net cash position, which is now not materializing.
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