AamigoO Group NV Completes Corso BV Acquisition-BTN

Betten Financial News announced that AamigoO Group NV has completed the acquisition of all shares in Corso BV on December 28, 2011. In August 2011 the Company reached an agreement with Avantus Employment Group BV for the acquisition of Corso BV. Conditions precedent to the agreement of a credit and approval of competition authorities, as announced on December 14, 2011, fell. Funding the Company with its principal bank ABN AMRO Bank NV agreed on a credit facility of EUR 23 million. To strengthen the financial position some shareholders issued convertible loans totaling EUR 1.5 million. In addition, the seller has issued two convertible loans totaling EUR 3.8 million. The obtained financing is part of the payment of the purchase price of EUR 25 million and to strengthen the Company's working capital.