Brief: Landis+Gyr Buys Etrel

Landis+Gyr AG

30/04/2021 16:48

April 30 (Reuters) - LANDIS+GYR GROUP AG  LANDI.S :
    * LANDIS+GYR STRENGTHENS POSITION IN EV MARKET THROUGH
AGREEMENT
ON ACQUISITION OF ETREL D.O.O.
    * ENTERED INTO A BINDING AGREEMENT TO ACQUIRE 75% OF SHARE
CAPITAL
OF ETREL D.O.O., A PROVIDER OF INTERACTIVE CHARGING HARDWARE AND
SOFTWARE SOLUTIONS FOR ELECTRIC VEHICLES
    * TO BUY ETREL FOR A MID-RANGE DOUBLE DIGIT MILLION EURO
PURCHASE
PRICE
    * CURRENT MANAGEMENT WILL CONTINUE TO HOLD 25% IN ETREL
    * TRANSACTION IS EXPECTED TO CLOSE IN JUNE 2021
    * PURSUANT TO RESPECTIVE AGREEMENT, LANDIS+GYR HAS OPTION TO
ACQUIRE REMAINING 25% OF SHARES IN ETREL IN MAY 2024.

Source text for Eikon:  ID:nTENsq54za 
Further company coverage:  LANDI.S 

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