Further to the announcement on 9 May 2024 regarding the potential acquisition of Gett by Pango (“the Transaction”), Gett’s major shareholders VNV Global, Access Industries and MCI Capital confirm that they have made a joint decision with Pango to withdraw their application from the Israel Competition Authority (“the ICA”) thereby terminating the transaction.
Per Brilioth, CEO of VNV Global: “We are grateful to the ICA for the thorough review of the Transaction. Having worked effectively with the regulator over the past few months, it has become apparent that the protracted review process could affect regular business performance and hinder growth initiatives. Gett remains operationally strong and secure in its current state, with a very solid track record of sustainably profitable operations. The company delivered an exceptionally strong Q1, and we will continue to build on the current success to pursue further growth.”
