GE Holding SPA Acquires Majority Control of Monkey Rock Group, Inc.

Rhea-AI Summary

GE Holding SPA acquires 197.6 million shares of Monkey Rock Group Inc.

Positive

• GE Holding SPA, an Italian holding company, has recently purchased 197,600,000 shares of Monkey Rock Group Inc. This acquisition will allow MKRO to operate as a sub-holding of the group for overseas acquisitions in the United States and South America.

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• None.

Milan, ltaly--(Newsfile Corp. - October 12, 2023) - GE Holding SPA, an Italian holding company, has recently purchased 197,600,000 shares of the capital shares of Monkey Rock Group lnc. (OTC Pink: MKRO), a US Corporation organized under the Law of the State of Delaware, "MKRO".

MKRO will operate as a sub-holding of the Group for all acquisitions planned overseas, both in the United States of America and in South America.

GE Holding SPA owns 100% of the capital shares of Samag Holding & Logistic SPA, an Italy-based industrial group with more than 1,900 direct employees, active in the different segments of logistics.

In 2022, GE Holding reported over Euro 314,000,000,00 (USD$333,000,000,00) in consolidated revenues and Euro 26,600,000,00 (USD$28,100,000,00) consolidated normalized EBITDA.

Samag Holding & Logistic SPA was founded in 2011 by Mr. Giuseppe Esposito, an Italian Tax Adviser and Chartered Auditor.

Since then, Samag Group has grown double digit in warehouse handling, overland transportation, temporary work management and international forwarding, exhibiting a 2019-2022 CAGR of 31% on Revenues and of 53% on EBITDA.

GE Holding and Samag Group are now heralding an acquisition campaign aimed at further expanding activities consolidating European and international players as well as at adding up new business lines, such as air cargo, port management, last mile distribution and facility management, including the acquisition of US-based corporations.

By the end of the acquisition process and in less than 24 months from now, GE Holding shall become a USO 2 billion turnover international, fully integrated logistics group, focusing on integrated and high efficiency services to SMEs, 24/7 worldwide.

Contact:
Sergio Massaglia
Phone: +14383642277
Email: finluxusa@gmail.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183742

FAQ

Who acquired shares of Monkey Rock Group Inc?

GE Holding SPA, an Italian holding company.

What will Monkey Rock Group Inc operate as?

MKRO will operate as a sub-holding of GE Holding SPA for overseas acquisitions in the United States and South America.

What is the revenue and EBITDA of GE Holding SPA in 2022?

GE Holding reported over Euro 314,000,000,00 (USD$333,000,000,00) in consolidated revenues and Euro 26,600,000,00 (USD$28,100,000,00) consolidated normalized EBITDA in 2022.

What is the growth rate of Samag Group from 2019 to 2022?

Samag Group exhibited a 2019-2022 CAGR of 31% on Revenues and 53% on EBITDA.

What are the future plans of GE Holding and Samag Group?

They are planning an acquisition campaign to expand activities, consolidate European and international players, and add new business lines such as air cargo, port management, last mile distribution, and facility management.

What is the timeline for GE Holding to become a fully integrated logistics group?

By the end of the acquisition process and in less than 24 months from now, GE Holding aims to become a USO 2 billion turnover international, fully integrated logistics group.