VNV announced that it has entered into an agreement to fully exit its investment in Gett for net consideration of c. USD 89m, representing a 5% discount to the valuation of Gett in VNV’s Q2/25 NAV. We estimate that the transaction values Gett at an LTM EV/EBITDA of c. 8x (as of Q1/25) and provides enough liquidity to take VNV into a net cash position, also enabling the company to pursue new investments going forward. Positive, in our view.
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