Agilyx signs binding agreement to acquire 44% of GreenDot Global - Europe's largest waste plastic recycling platform
OSLO, Norway - July 17, 2025 - Agilyx ASA (OSE: AGLX; OTCQX: AGXXF) ("Agilyx"orthe "Company") has entered into a binding and fully financed agreement toacquire 44% of GreenDot Global S.à r.l. ("GreenDot"). This transformativeinvestment significantly strengthens Agilyx's presence in the European market,creating a global platform for sourcing and supplying feedstock to theadvancedrecycling industry.
GreenDot is the leading circular plastic recycling platform in Europe and thethird-largest recycling company in Germany. Licensed across 29 countries, itisthe most recognized recycling brand in Europe. GreenDot processes more than 1million tons of packaging waste annually, including over 400,000 tons ofplastic. The company is expanding its advanced recycling feedstock supplycapabilities by investing in sorting facilities in Austria and Italy. For2025,GreenDot's operations are expected to generate approximately EUR400 million intotal sales and double-digit EBITDA.
Ranjeet Bhatia, CEO of Agilyx, commented:"We are thrilled to expand Agilyx´s reach into Europe as we build a globalplatform to supply feedstock to the plastic recycling industry. GreenDot istherecognized industry leader in Europe, has tremendous momentum in thefast-developing advanced recycling market, and is a great complement toAgilyx'sexisting activities. We´re looking forward to working closely with GreenDot´stalented management and world-class shareholders on this transformativeopportunity."
Laurent Auguste; CEO of GreenDot commented:"We very much welcome Agilyx as a new GreenDot shareholder. Agilyx'sinvestmentand the business synergies we will develop between two market leaders acrosstheAtlantic will strengthen our ability to act as a preferred partner of brandsandactors in the plastic packaging value chain. The new capital injection willsupport expansion of facilities in Germany, Austria, and Italy and isadditionalevidence of GreenDot's commitment to scaling the circular economy of plasticinEurope."
The transaction values GreenDot at a post-money enterprise value of EUR197million. Agilyx will acquire its 44% stake for a total consideration of EUR52million consisting of approximately EUR32 million in newly issued Agilyxshares("Consideration Shares"), priced at the 30-day-volume-weighted average price(VWAP) of 25.76 NOK per share, and approximately EUR20 million in cash in acombination of primary and secondary share purchases. The Consideration Shareswill be subject to a lock-up period until 10 January 2026 followed by a 90-daywindow during which sales by the sellers will be capped at 20% of the prior30-day average daily trading volume.
The transaction is fully financed by certain existing investors through aEUR20million subordinated loan facility. The loan facility will rank subordinatedtoAgilyx's outstanding bonds issued under "Agilyx ASA 13.50% senior secured USD50,000,000 bonds 2024/2027" and is subject to a subordinated loan agreement tobe entered into with the bond trustee, as set out in the bond terms.
The transaction is expected to close in late Q3 2025, subject to customaryconditions including, inter alia: regulatory approval under German foreigndirect investment laws, lender consent for change of control at GreenDot, andAgilyx shareholder approval for the issuance of the Consideration Shares at anExtraordinary General Meeting (EGM), for which sufficient voting undertakingshave been received. Further information can be found in the file attached to this announcement andon the Agilyx website.
In connection with this transaction, Tor Svelland will step down from Agilyx'sNomination Committee. The Company intends to nominate Tom Lileng as hisreplacement, subject to approval at the upcoming EGM. Mr. Lileng bringsextensive investment and governance experience. He served most recently asManaging Director of General Oriental Investments and Cavamont Holdings, wherehe managed both liquid and private investment portfolios, achieving strongabsolute and risk-adjusted returns. He currently serves as a Non-ExecutiveDirector and Nomination Committee Member for two other publicly listedNorwegiancompanies.
ABOUT AGILYXAgilyx ASA is at the forefront of advanced recycling, converting post-useplastics into high-value feedstock and virgin-equivalent products. ThroughCyclyx, its joint venture with ExxonMobil (25%) and LyondellBasell (25%),Agilyxsupports the collection and processing of post-use plastic waste intocustom-formulated, high-quality feedstock solutions for global plasticproducers. Through Plastyx, its joint venture with Circular Resources (40%),Agilyx provides critical European-sourced feedstock to the global mechanicalandadvanced recycling markets. Additionally, Agilyx markets TruStyrenyx, apolystyrene advanced recycling solution that combines its Styrenyxdepolymerization technology with Technip Energies' purification process. Byadvancing from a linear "make-take-waste" model to a circular economy, Agilyxsupports the transition to a low-carbon future.
ABOUT GREENDOTGreenDot brings nearly three decades of experience in the circular economy anddeep commercial relationships with global brands such as Nestle, PepsiCo, andMondelez, providing a unique end-to-end food packaging solution to brandowners.Its close cooperation with Agilyx will significantly enhance Agilyx'slong-termfeedstock strategy and capacity to scale advanced plastic recycling solutions,creating a unique global platform for waste plastic feedstock to meet rapidlyincreasing demand for high-quality feedstock.
***This information is considered to be inside information pursuant to the EUMarket Abuse Regulation (MAR) and is subject to the disclosure requirementspursuant to MAR article 17 and section 5-12 of the Norwegian SecuritiesTradingAct. This stock exchange announcement was published by Ana Sandersen,Marketingand Corporate Affairs Manager of the Company, on 17 July 2025 at 01:42 hoursCEST.
Important informationThis announcement is not and does not form a part of any offer to sell, or asolicitation of an offer to purchase, any securities. The distribution of thisannouncement and other information may be restricted by law in certainjurisdictions. Persons into whose possession this announcement or such otherinformation should come are required to inform themselves about and to observeany such restrictions. Copies of this announcement are not being made and maynot be distributed or sent into any jurisdiction in which such distributionwould be unlawful or would require registration or other measures.
Matters discussed in this announcement may constitute forward-lookingstatements. Forward-looking statements are statements that are not historicalfacts and may be identified by words such as "believe", "expect","anticipate","strategy", "intends", "estimate", "will", "may", "continue", "should" andsimilar expressions. The forward-looking statements in this release are basedupon various assumptions, many of which are based, in turn, upon furtherassumptions. Although Agilyx believe that these assumptions were reasonablewhenmade, these assumptions are inherently subject to significant known andunknownrisks, uncertainties, contingencies and other important factors which aredifficult or impossible to predict, and are beyond their control. Such risks,uncertainties, contingencies and other important factors could cause actualevents to differ materially from the expectations expressed or implied in thisrelease by such forward-looking statements Agilyx does not make any guaranteethat the assumptions underlying the forward-looking statements in thisannouncement are free from errors nor does it accept any responsibility forthefuture accuracy of the opinions expressed in this announcement or anyobligationto update or revise the statements in this announcement to reflect subsequentevents. You should not place undue reliance on the forward-looking statementsinthis announcement. The information, opinions and forward-looking statementscontained in this announcement speak only as at its date, and are subject tochange without notice. Agilyx do not undertake any obligation to review,update,confirm, or to release publicly any revisions to any forward-lookingstatementsto reflect events that occur or circumstances that arise in relation to thecontent of this announcement.
This announcement is for information purposes only and is not to be relieduponin substitution for the exercise of independent judgment. It is not intendedasinvestment advice and under no circumstances is it to be used or considered asan offer to sell, or a solicitation of an offer to buy any securities or arecommendation to buy or sell any securities of Agilyx.
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