Zip Co Limited’s Acquisition of Spotii Holdings

Arnold Bloch Leibler and DLA Piper acted for Zip Co Limited (ZIP: ASX) on the acquisition of Spotii Holdings, assisted by Legalintro.

Zip Co Limited (Z1P: ASX) announced it has entered into an agreement to acquire the remaining shares of UAE-based BNPL leader Spotii Holdings Ltd.

The acquisition of Spotii establishes Zip as a leading player in the Middle East, with Spotii operational in the UAE and KSA, and poised to expand further.

Under the acquisition, Zip will purchase the remaining shares in Spotii that Zip does not already own for an amount of ~USD$16 million, implying an enterprise value of ~USD$20 million, implying an enterprise value of ~USD$20 million.

The ABL team was led by Corporate and M&A partner Gavin Hammerschlag (Picture), and supported by lawyers Anna Sandiford and Max Grunwald.

The DLA Piper team in the Middle East was led by Head of Corporate Will Seivewright alongside Dubai-based Senior Associate Grace Hunt. The Prague team was led by Miroslav Dubovský, Head of Corporate and Managing Partner of the Prague office, supported by Marcel Janícek, Associate.

Involved fees earner: Max Grunwald – Arnold Bloch Leibler; Gavin Hammerschlag – Arnold Bloch Leibler; Anna Sandiford – Arnold Bloch Leibler; Miroslav Dubovsky – DLA Piper; Grace Hunt – DLA Piper; Marcel Janicek – DLA Piper; Will Seivewright – DLA Piper;

Law Firms: Arnold Bloch Leibler; DLA Piper;

Clients: Zip Co Ltd;

Author: Sonia Carcano