Brief: Elica signs deal to buy 30 pct stake in unit Zhejiang Elica Putian Electric

Elica SpA

26/07/2017 16:37

July 26 (Reuters) - ELICA SPA  ELC.MI : 
    * SIGNS AGREEMENT TO BUY 30 PERCENT OF SHARE CAPITAL OF UNIT ZHEJIANG ELICA PUTIAN ELECTRIC 
CO., LTD. 
    * CURRENTLY, BEFORE CONCLUSION OF THE OPERATION, OWNS 66.76% OF THE SHARE CAPITAL OF 
ZHEJIANG ELICA PUTIAN ELECTRIC CO., LTD. 
    * CONSIDERATION FOR THE 30% HOLDING IN THE CHINESE SUBSIDIARY IS CNY 15 MILLION, TO BE PAID 
IN CASH UTILISING AVAILABLE COMPANY RESOURCES 
 
Source text for Eikon:  ID:nBIAGK7RH  
Further company coverage:  ELC.MI  
 
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