Brief: Lu-Ve Group Acquires 75% Of Refrion Group

LU-VE SpA

25/02/2022 21:27

Feb 25 (Reuters) - Lu-Ve SpA  LUVE.MI :
    * LU-VE GROUP ACQUIRES 75% OF REFRION GROUP
    * AGREED CONSIDERATION FOR 75% OF REFRION, TO BE PAID AT
CLOSING
AND FINANCED THROUGH LU- VE GROUP'S CASH, IS EUR 8.1 MILLION
    * FOUNDER, DANIELE STOLFO, WILL MAINTAIN THE POSITION OF CEO
OF
REFRION, AND WILL JOIN LUVE GROUP’S PRODUCT DEVELOPMENT
COMMITTEE
    * AGREEMENT PROVIDES FOR AN OPTION, EXERCISABLE WITHIN NEXT
FIVE
YEARS, TO PURCHASE REMAINING 25% OF REFRION
    * REMAINING 25% OF SHARE CAPITAL WILL REMAIN IN OWNERSHIP OF
DANIELE STOLFO AND FELIX SIEGFRIED RIEDEL, MAIN MANAGERS OF
REFRION GROUP

Source text for Eikon:  ID:nBIA53Zf9G 
Further company coverage:  LUVE.MI 

 ((Reuters.Briefs@thomsonreuters.com;))