Deal changes from an asset purchase to a share purchase.
Top level domain name operator CentralNic (London AIM:CNIC) announced it was acquiring the .sk (Slovakia) top level domain name on August 25th. It still hasn’t completed the deal and the terms have changed.
The deal was originally created as an asset purchase. Now, CentralNic will acquire the SK-NIC, a.s. legal entity and all associated assets and liabilities.
CentralNic does not expect this to have a material impact on how much it pays for .sk:
The maximum total consideration for the acquisition remains unchanged at €26.12 million, however the initial cash consideration for the acquisition will now be slightly lower, at €20.27 million (previously €21.27 million), and the deferred cash consideration will now be slightly higher at up to €5.85 million (previously up to €4.85 million), and extended in time to cover a period until 2023. The deferred cash consideration is dependent on SK-NIC attaining defined growth targets over the next three years.
The share purchase agreement was entered into yesterday and the company expects the deal to close “in the near future”.