Tadiran Group Ltd (TASE:TDRN) entered into an agreement to acquire 60% stake in VP Solar srl for €45 million on January 2, 2022. Tadiran will pay €32 million to the seller and an additional €13 million on the basis of meeting the targets set for the years 2022-2023. As part of the acquisition agreement, the subsidiary was granted a CALL option and the seller a PUT option to purchase the remaining shares (40%), and this option will be exercisable for a month and a half after VP Solar's financial results for 2024 are announced.

Completion of the transaction is conditional on the fulfillment of conditions precedent, including, inter alia, the correctness of the statements and obligations of the parties, also at the time of completion; Third party approvals and the absence of a material adverse change in VP Solar's position, as defined in the purchase agreement. Ayelet Krispin of Gross Kleinhendler Hodak Halevy Greenberg Shenhav & Co acted as legal advisor to Tadiran Group.