OK Mobility Group has appointed UBS Corporate Advisory Group as independent financial advisor to explore alternative strategic options to bolster the further development of the business.
The decision comes after the group has received multiple approaches by other strategic mobility players and institutional investors.
“Decisions on the future will depend on which alternative will suit best the unique reality of the group within the tech-mobility space and allow unlocking its great potential in the upcoming future”, states Ktiri. “In any case expansion must go hand in hand with profitability and sustainability, in line with the strategy implemented so far which has been consistently delivering above-industry average margins.”
“We have a solid, resilient, distinctive and increasingly tech-driven business model that allowed us to cope well with the hurdles raised by Covid-19 and keep the group profitable in a sector where many players are significantly struggling”, adds Ktiri. “Now it is the right moment for a transition to a multinational corporate structure embracing at full throttle the exciting and demanding challenges of the coming years without losing the agility, vision and innovative thinking coming from an entrepreneurial approach; this will allow us to consolidate as a key European tech-driven player in the mobility space”.
Strategic options on the table will be thoroughly assessed with the advice of the Swiss bank including the opportunity of an independent expansion strategy.