Brief: Einhell Germany Acquires Outillages King Canada, Inc.

Einhell Germany AG

17/02/2022 14:57

Feb 17 (Reuters) - EINHELL GERMANY AG  EING_p.DE :
    * ACQUISITION OF SHARES IN THE CANADIAN COMPANY OUTILLAGES
KING
CANADA, INC.
    * SIGNED DEFINITIVE AGREEMENTS ON FEBRUARY 17, 2022 TO
ACQUIRE
TWO-THIRDS OF SHARES IN CANADIAN PRIVATE COMPANY, OUTILLAGES
KING CANADA, INC.e
    * TRANSACTION IS SCHEDULED TO BE COMPLETED ON MARCH 1, 2022,
UPON
SATISFACTION OF CLOSING CONDITIONS
    * PRINCIPAL SHAREHOLDER OF KING CANADA, HOWARD RICHMAN, WILL
RETAIN A ONE-THIRD OWNERSHIP INTEREST AND WILL CONTINUE AS
PRESIDENT OF KING CANADA AND SERVE ON KING CANADA'S BOARD OF
DIRECTORS
    * EINHELL, AS MAJORITY SHAREHOLDER, AND HOWARD RICHMAN, AS
MINORITY SHAREHOLDER, WILL HAVE MUTUAL OPTIONS TO TRANSFER
REMAINING SHARE IF SPECIFIC CONDITIONS ARE MET

Source text for Eikon:  ID:nEQ1XRRhsa 
Further company coverage:  EING_p.DE 

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