Brief: Garo Acquires EV Charge Partner Sweden AB

Garo AB

15/05/2020 07:35

May 15 (Reuters) - Garo AB  GARO.ST :
    * GARO ACQUIRES EV CHARGE PARTNER SWEDEN AB
    * GARO AB - TO ACQUIRE 70 PERCENT OF SHARES IN EV CHARGE
PARTNER
SWEDEN AB.
    * PURCHASE PRICE AMOUNTS TO MSEK 5.6 FOR 70 PERCENT OF
SHARES IN
EV CHARGE PARTNER
    * SHARES HAVE BEEN ACQUIRED FROM DAVIDS ELTEKNIK AB AND
PLANNED
DATE FOR TAKE OVER IS JUNE 1, 2020
    * WILL ALSO RECEIVE AN OPTION AND OBLIGATION TO ACQUIRE AN
ADDITIONAL 10 PERCENT OF SHARES IN EV CHARGE PARTNER IN 2022
    * WILL RECEIVE AN OPTION TO ACQUIRE, AND DAVIDS ELTEKNIK AB
AN
OPTION TO SELL, REMAINING OUTSTANDING SHARES IN COMPANY AFTER
END OF 2025
    * ACQUISITION IS NOT EXPECTED TO HAVE ANY SIGNIFICANT IMPACT
ON
GARO'S OPERATING MARGIN OR EARNINGS PER SHARE FOR 2020.

Source text for Eikon:  ID:nWkr26GWYP 
Further company coverage:  GARO.ST 

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