Brief: Patricia Industries, Part Of Investor, Funds Strategic Add-On Acquisition By Piab Group

Investor AB

28/03/2023 14:10

March 28 (Reuters) - Investor AB  INVEb.ST :
    * PATRICIA INDUSTRIES FUNDS STRATEGIC ADD-ON ACQUISITION BY
PIAB
GROUP
    * PIAB GROUP, A LEADING PROVIDER OF GRIPPING AND MOVING
SOLUTIONS,
HAS ACQUIRED COVAL, A GLOBAL PLAYER IN VACUUM AUTOMATION
COMPONENTS AND SYSTEMS
    * ACQUISITION WILL BE FUNDED WITH EUR 20M IN EQUITY FROM
PATRICIA
INDUSTRIES, IN ADDITION TO CASH FROM PIAB GROUP AND EXTERNAL
DEBT
    * PARTIES HAVE AGREED NOT TO DISCLOSE TERMS AND CONDITIONS
OF
TRANSACTION

Source text for Eikon:  ID:nWkrcdf1mR 
Further company coverage:  INVEb.ST 

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