Deal Snapshot
BNN TECHNOLOGY ACQUIRES STAKE IN AEROSPACE AND DEFENCE FIRM MICRONET ENERTEC TECHNOLOGIES
Wednesday 11 July 2018

UK-based technology and content provider BNN Technology PLC has acquired a 14.89% stake in New Jersey, US-based aerospace and defence company Micronet Enertec Technologies, Inc. (NASDAQ: MICT), the company said.
Following this acquisition, BNN and MICT have executed a letter of intent to enter into a series of strategic transactions.


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Details
Date Published: 11/07/2018
Target: Micronet Enertec Technologies/14.89% stake
Country: USA
Sector: Aerospace/Defence
Type: Stakebuilding
Financing: Cash
Status: Closed
Vendor:
Buyer: BNN Technology
Comment:
Under the deal, BNN will seek to acquire, through a third-party cash tender offer at a price of at least USD 1.65, an additional approximately 35% stake in MICT, with a view to owning in aggregate at least 50.1% of the company´s issued shares.

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