Brief: Aygaz Signs Agreement To Acquire 50 Pct Of United LPG For 50 Mln Taka From United Enterprises & Co

Aygaz

05/03/2019 13:27

March 5 (Reuters) - AYGAZ AS  AYGAZ.IS :
    * SIGNS SHARE PURCHASE AGREEMENT WHERE AYGAZ ('BUYER') SHALL
BUY
50% OF THE SHARES (‘SALES SHARES') OF UNITED LPG
    * SIGNS SHARE PURCHASE AGREEMENT WITH UNITED ENTERPRISES &
CO.
LTD. WITH TOTAL VALUE OF 50,000,000 TAKA (APPROXIMATELY 625,000
USD)
    * REGARDING INVESTMENTS IN FIRST FOUR YEARS, CAPITAL
INCREASE OF
$75 MILLION AND $80 MILLION LONG-TERM BANK LOAN FINANCING AT
MOST ARE ENVISAGED
    * INVESTMENTS SHALL BE MADE IN PARALLEL WITH THE MARKET AND
SALES
DEVELOPMENTS AND IN PROPORTION OF THE SHARES OF THE PARTIES
    * NEW JOINT VENTURE COMPANY TO OPERATE IN LPG SUPPLY,
FILLING AND
DISTRIBUTION IN THE BANGLADESH MARKET
    * IF CONDITIONS PRECEDENTS SET FORTH IN THE CONTRACT CANNOT
BE
COMPLETED BY MARCH 31, 2020, CONTRACT WILL BE TERMINATED
AUTOMATICALLY

Source text for Eikon:  ID:nIKA8rnXzd 
Further company coverage:  AYGAZ.IS 

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