Storytel completes acquisition of streaming service Audiobooks.com
The Storytel Group (“Storytel”), one of the world’s largest audiobook and e-book streaming companies, has completed the acquisition of Audiobooks.com from KKR as was announced on November 12, 2021. Audiobooks.com will be consolidated into Storytel’s financials as of January 7, 2022.The transaction details are confirmed as previously announced with a purchase price, paid in cash, calculated based on an enterprise value of USD 135 million on a cash and debt free basis. The acquisition is financed through existing funds and a newly issued SEK 500 million bridge loan facility, with termination