Hampiðjan’s acquisition of a 75.1 per cent stake in the Indian net and rope manufacturer Kohinoor has now been fully completed.
The company said the settlement aligned closely with the original expectations, and the payment amounted to €21.7 million, which has been received by the seller’s bank.
The acquisition agreements include two performance-based targets that could result in additional payments to the sellers if met. If EBITDA reaches €4.45 million in the financial year 2024–25, which ended on March 31, then an additional payment of €2.07 million will be triggered.
The corresponding target for the 2025–26 financial year, ending March 31 of next year, is an EBITDA of €5.52 million, with the same €2.07 million in additional payment attached.