iVision Tech has purchased 60 percent of Ivilens, not subsidiary iVision Tech France Sas as previously reported

(Alliance News) - iVision Tech Spa announced Wednesday that it has acquired a 60 percent majority stake in Ivilens Ood, a historic Bulgarian company based in Plovdiv that specializes in the production and marketing of finished and semifinished ophthalmic lenses and has exclusive rights to market Leica lenses for Bulgaria and northern Macedonia.

The countervalue of the transaction, already paid through own resources, was EUR280,000.00.

The remaining 40 percent of the company's share capital is held by Rosen Marinov Topalov, a member of the current management team for 20 percent, and Vanya Tsvetanova Suhleva, a long-time shareholder for the remaining 20 percent.

Ivilens, the press release says, sells 170,000 pieces on average each year, has 35 employees, and as of Dec. 31, 2023 had revenues of about EUR1.13 million, Ebitda of about EUR380-000, with a related Ebitda margin of 30 percent, and net income of about EUR170,000. Net financial debt was approximately EUR50,000.

Ivilens management will continue to play an active and strategic role in the management of the Bulgarian investee and business development under iVision Tech.

iVision Tech's stock gives up 2.8 percent to EUR0.82 per share.

By Chiara Bruschi, Alliance News reporter

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