Afarak Group SE (HLSE:AFAGR) signed an agreement to acquire LL-resources gmbh from LLR-Holding GmbH for approximately EUR 59.5 million on May 12, 2023. The Consideration Shares will be directed for subscription of the shareholders of LLR?s shareholders. Following execution, LLR will become a fully owned subsidiary of Afarak. Consequently, the former shareholders of LLR will hold in aggregate approximately 35 % of the total amount of shares and votes of Afarak following execution of the Transaction. The completion of the Transaction is subject to e.g: approval of the Transaction by the Shareholders of Afarak; merger control approval in Austria and Germany; Foreign Direct Investment (FDI) clearance and approval in Austria; approval of the Prospectus by the Finnish Financial Supervisory Authority for the listing of the Consideration Shares in Finland and needed approval in the U and fulfilment of other customary terms and conditions of a transaction of this type. As of August 3, 2023, Austrian Federal Competition Authority and German Federal Cartel Office have granted necessary clearances and approvals so that the Transaction can be executed.

Afarak Group SE (HLSE:AFAGR) cancelled the acquisition of LL-resources gmbh from LLR-Holding GmbH on October 12, 2023.