Intention to divest Atsoko
INTENTION TO DIVEST ATSOKO
MTI Investment SE announces that it is seeking to divest its stake in Atsoko
Following a strategic review, due to not only operational and regulatory challenges, MTI Investment SE and co-owner Bratt International AB have decided to explore how to best divest its joint ownership in Atsoko Tanzania Limited. The alternatives looked upon include management buy-out, sale to new party and liquidation, as a last alternative. At present there is no set timeline for when the transaction is to be finalized, but the team is working on securing an option that is best for both the company and its shareholders.
In the 2021 Year-End Report released by MTI Investment SE[1], Atsoko Tanzania Limited had a turnover of EUR 100,000 in 2021 (EUR 113,000), an EBITDA of negative EUR 56,000 (EUR - 28,000) and a Net loss of EUR 147,000 (EUR -74,000).
Certified Adviser
The Company's Certified Adviser is Mangold Fondkommission AB which can be reached at 08-5030 1550 and by e-mail [email protected].
For additional information
Pontus Engström, CEO, MTI Investment SE
+46 70 716 55 38
About MTI Investment SE
MTI Investment SE is a Nordic investment and venture building company, founded in 2014 by a team with extensive experience from emerging markets with the aim of investing in East African small and medium-sized enterprises ("SME") with high value-adding potential. The Company is active in the expansive East African market, and by being a long-term and active owner, MTI Investment helps its portfolio companies grow faster and become more profitable. The Company invests primarily in innovative and scalable companies that have the potential for a significant positive impact on society.
[1] https://www.mti-investment.com/wp-content/uploads/2022/03/Year-End-Report-2021-MTI-Investment-SE_25032022.pdf
The following documents can be retrieved from beQuoted
PR-Atsoko-strategic-review-MTI-Investment-SE.pdf
