Brief: Leclanché SA Signs Key Partnership Agreement With Pinnacle International Capital To Secure Expansion Funding

Leclanche SA

27/06/2024 05:57

June 27 (Reuters) - Leclanche SA  LECN.S :
    * LECLANCHÉ SA SIGNS KEY PARTNERSHIP AGREEMENT WITH PINNACLE
INTERNATIONAL CAPITAL TO SECURE EXPANSION FUNDING
    * PARTNERSHIP WILL SEE CREATION OF A 50-50 JOINT VENTURE,
WITH TWO
2 GWH FACILITIES BEING BUILT BOTH IN EUROPE AND MIDDLE EAST
    * BUSINESS PLAN FOR NEXT FIVE YEARS THROUGH JOINT VENTURE
FOR AN
ANTICIPATED AMOUNT OF CHF 360 MILLION
    * PINNACLE INTERNATIONAL CAPITAL MAY ACQUIRE UP TO 70% OF
LECLANCHÉ THROUGH A CONTRIBUTION IN KIND
    * LECLANCHE - PINNACLE WILL BE GRANTED A FURTHER OPTION TO
ACQUIRE
30% ADDITIONAL STAKE IN LECLANCHÉ THROUGH AN AGREEMENT IN AMOUNT
OF UP TO CHF 240 MILLION
    * JOINT VENTURE FACTORIES OPERATIONS WILL BE MANAGED BY
LECLANCHÉ'S MANAGEMENT TEAM UNDER A MANAGEMENT AGREEMENT
    * PINNACLE WILL BE GRANTED A FURTHER OPTION TO ACQUIRE 30%
ADDITIONAL STAKE IN LECLANCHÉ THROUGH AN AGREEMENT WITH SEF LUX

Source text for Eikon:  ID:nEQ1WDvGHa 
Further company coverage:  LECN.S 

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