LLYC has sold its 80% stake in BAM to Rebecca Bamberger for 9 million dollars (8.65 million euros) as part of its consolidation and strengthening plan in its key markets, as reported by the company this Tuesday in a statement.
According to the agreement, already executed, the founder of BAM has repurchased 80% of the company’s shares, previously held by LLYC, which allows the Marketing and Corporate Affairs firm to fully recover the initial payment of 6.4 million dollars (6.15 million euros) made in March 2023, as well as the costs associated with the transaction.
The agreed payment will be done in cashwith an initial amount already deposited of 2.5 million dollars (2.4 million euros), followed by deferred payments plus deferral interest that will conclude in December 2030.
As part of the agreement, LLYC withdraws from the legal actions taken a few months ago against Rebecca Bamberger and her team, under the guarantee of judicial supervision (‘stipulated judgment’) that ensures compliance with the agreed terms.
This operation does not affect the LLYC operations in the United Statesits second most important market after Spain, nor to its growth plans in the country.
In fact, the firm had excluded BAM from the consolidation scope in its financial statements for the first half of 2024 and has integrated the operations of ‘Lambert by LLYC’ under a single management structure.
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