sino wants to part with part of the remaining stake in the neo broker Trade Republic Bank GmbH. According to the Düsseldorf-based company, sino Beteiligungen GmbH agreed on a non-binding term sheet with a potential buyer. The company puts the possible sales proceeds at 11.1 million euros and the possible pre-tax profit at 10.8 million euros. You would then still have a 13.8 percent stake in Trade Republic.
However, the deal is still pending and it can turn out differently: “It is uncertain whether a notarized purchase contract will be concluded with the prospective buyer, which has yet to be negotiated in detail on the basis of the agreement. Trade Republic shareholders have certain pre-emptive and co-sale rights of which it is uncertain whether they will be exercised. The latter could possibly reduce the scope of the shares to be sold by sino Beteiligungen GmbH, ”the Düsseldorf-based company said.
In the first quarter of 2021, it should then be clear whether the sale will take place in the planned form.