VNV Global AB (publ) (“VNV Global”) has announced that the previously disclosed Gett transaction will not proceed to closing. As a result, VNV Global will remain a shareholder in Gett.
Despite extensive efforts to complete the transaction, VNV Global and other existing Gett shareholders together with the prospective buyer have now taken the decision to not move forward to close the transaction.
VNV Global is excited to remain a shareholder for the next chapter of Gett’s journey.
The company continues to see strong operational momentum and has delivered gross bookings of approx. USD 520 million [1] and EBITDA of approx. USD 17 million [1] during the last twelve months ending March 2025.
Cash and cash equivalents exceeding USD 60 million [1] as at March 31, 2025.
Given Gett’s strong performance and cash generation, VNV Global expects the company to make a one-off dividend distribution to shareholders later this year, whilst continuing to invest in sustainable long-term growth.
As an active and significant minority shareholder, VNV Global remains committed to working alongside Gett, its management, and other shareholders to drive value creation for all stakeholders.
[1] As per Gett’s management accounts (unaudited)
Violations included critical safety failures such as the absence of a fire extinguisher and faulty lights. Four drivers were given formal warnings for failing to display their ID licence badges.
The owner of a local taxi company has spoken out, revealing the severe impact these issues are having on the profession.
Evidence in the report will be instrumental in TfL’s work toward achieving the Mayor's Vision Zero goal to eliminate death and serious injury from London's transport network.
The cost of operating a taxi in Liverpool is poised to increase for the first time in over a decade, as the city council moves to raise licensing fees and implement tighter restrictions on vehicle advertisements.
Adam McDonnell, 30, of no fixed address, received the sentence at Cambridge Crown Court on May 14, along with an extended five-year licence period.
City councillors voted on Monday 19 May, to approve the extension, allowing taxis older than a decade to continue operating on city streets.
According to reports, a passenger in a black Skoda Fabia taxi began arguing with the driver before allegedly grabbing him by the neck and punching him.
Enus Karim, has permanently lost his licence to operate, concluding an extended legal battle that saw North Kesteven DC's decision to revoke his licence upheld by both Magistrates and Crown Courts.
East Renfrewshire Council has completed its fare review, which includes consultation with the taxi trade, and the fares will remain unchanged.
Akhtar pleaded guilty on April 23 to exceeding the 40mph speed limit on the A555 Ringway Road West in Manchester on October 5, 2023, while driving a Skoda Octavia.
Andrew Macdonald, Uber's senior vice president of mobility, told the BBC the company is prepared to introduce robotaxis as soon as the "regulatory environment is ready."
Officers were on Neston Street at around 2.50pm on Thursday 15 May, when they saw four males inside a Mercedes Vito.
Keith Bonner, 57, was seen reversing into oncoming traffic and then later forcing an elderly man to take evasive action on a zebra crossing in Welshpool town centre.
A cabbie has been granted a temporary licence exception by North Ayrshire Licensing Committee, allowing her to use a standard car instead of a WAV that has become prohibitively expensive to repair.
Several taxis underwent checks during the operation. Working in conjunction with Wolverhampton Council licensing officers, a number of breaches of licence conditions were reportedly identified.
The proposed changes follow a period of contention surrounding taxi vehicle safety and maintenance, as well as disagreements over the implementation of a mobile phone app for checks and enforcement.
The incident occurred in January when Monica Price, an 80-year-old registered blind woman, had booked two taxis with Argyle Taxis in Birkenhead for a meeting in Wallasey.
The move comes in response to concerns about passenger safety and complaints that some drivers are refusing card payments despite having the necessary equipment.
A 53-year-old man, Andrew Dolan, has been slapped with a £1,152 court bill after he unleashed a racist tirade and violently damaged a taxi in Longton.
These councils, often lauded by environmental groups, are under scrutiny for their expenditure on chauffeurs and minicabs, seemingly contradicting their public stance on reducing car usage.