HAL’s Acquisition of IQIP Holding B.V.
HAL, who had secured full ownership of IQIP Holding B.V. (formerly part of Royal IHC) back in March 2023, has now inked agreements to divest 40% of IQIP to AvH Growth Capital NV1 and an additional 20% to MerweOord B.V.
Divestment Agreement Details with AvH Growth Capital
The latter holds the notable prerogative to elevate its ownership stake to 33.33% in 2024. If exercised, this alteration would result in a tripartite division of IQIP’s shares amongst HAL, AvH, and MerweOord, each owning an equal one-third of the entity’s equity. Notably, the transaction is structured on the foundation of an equity valuation of IQIP, suitably adjusted for dividends, amounting to €250 million.
Completion of this transaction is contingent upon the customary regulatory clearance procedures. As per current estimates, the process is projected to culminate in early 2024.