Sweden-based investment company VNV Global has agreed to sell its holdings in four marketplace companies to Verdane for “up to” $58 million U.S., according to a news release from the former.

The four companies are Norway-based secondhand fashion and interiors “social marketplace” Tise, Netherlands-based luxury marketplace James Edition, Sweden-based electric car digital auto retailer Carla and Poland-based beauty services marketplace Booksy.

VNV holds more than 10% of Booksy and has stakes of 25.5% and 8.3% in James Edition and Tise, respectively. Its stake in Carla is 3.0%.

$52.0 million will be paid in full on closure, with the remaining $6.0 million “subject to meeting specific performance targets for the divested companies,” according to VNV.

A final sale price of $58 million would represent “a 2.4% discount to the valuation for the Divested Companies in VNV Global’s latest available net asset value as per December 31, 2023,” it added.

The deal is part of VNV’s broader effort to reduce its net debt, which currently stands at $110 million. In the company’s Q4 2023 earnings release CEO Per Brilioth said: “I feel confident that VNV Global will be able to raise enough to become debt free in a year’s time,” he asserted.

Founded in 1985, Verdane says it “partners with tech-enabled and sustainable European businesses.” The company has offices in Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm.

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