Brief: Erne Ventures signs MoU regarding sale of shares in Arrinera
11/04/2017 09:54
April 11 (Reuters) - Erne Ventures SA ERN.WA and Arrinera
SA ARXP.WA :
* Both companies sign a memorandum of understanding (MoU)
with a company governed by the Italian law
* The MoU concerns the sale by Erne Ventures all or part of
its shares in Arrinera SA or the sale by Arrinera SA all the
shares or organized part of the business of Arrinera Racing Ltd.
(Arrinera Racing) and Arrinera Technology SA (Arrinera
Technology)
* In addition, another MoU was signed between Arrinera
Racing, Arrinera Technology and a company registered in Oman for
the Arrinera car production technology transfer
* The companies from Italy and Oman are planning joint
investments in the further development and production of
Arrinera race cars and road 'supercars'
* There is an exclusive period of 90 days for undertaking
full due diligence checks and agreeing the details of possible
transactions
Source text for Eikon: urn:newsml:reuters.com:*:nEM1095173 urn:newsml:reuters.com:*:nEM1095175
Further company coverage: ARXP.WA ARXP.WA
(Gdynia Newsroom)
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