Brief: Naga: Fosun To Take Majority Stake In Naga Group

NAGA AG

29/08/2019 15:07

Aug 29 (Reuters) - NAGA GROUP AG  N4G.DE :
    * FOSUN WILL TAKE A MAJORITY STAKE IN THE NAGA GROUP AG
ALONGSIDE
SIGNIFICANT PLANNED CO-INVESTMENT BY THE MANAGEMENT, NEW GROWTH
CAPITAL OF EUR5M TO BE INJECTED INTO THE RESTRUCTURED COMPANY
    * SHARES WILL BE SOLD BY FORMER HBS AG SHAREHOLDERS TO FOSUN
    * EUR3MILLION WILL BE INJECTED THROUGH A SENIOR LOAN AND
EUR2MILLION VIA A CONVERTIBLE NOTE
    * CLOSE TO 90 % OF SHAREHOLDERS AGREED TO FURTHER EXTEND
THEIR
LOCKUPS FOR 3 MORE YEARS

Source text for Eikon:  ID:nEQ3X0mkNa 
Further company coverage:  N4G.DE 

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