Brief: OT Logistics Gets Binding Offer For Its Stake in Deutsche Binnenreederei And OT Logistics Group's Fleet

OT Logistics SA

28/11/2019 10:34

Nov 28 (Reuters) - OT Logistics SA  OTSL.WA :
    * SAID ON WEDNESDAY IT HAS RECEIVED A BINDING CONDITIONAL
OFFER TO
SELL 100% OF ITS STAKE IN ITS UNIT DEUTSCHE BINNENREEDEREI
    * BASED ON SAID OFFER THE COMPANY RESOLVES TO OPEN
NEGOTIATIONS ON
SALE OF SAID ASSETS AND ALLOW BIDDER TO CARRY OUT DUE DILIGENCE
    * PURCHASE PRICE UNDER SAID OFFER WOULD AMOUNT TO ABOUT EUR
19
MILLION, WHICH WOULD ALSO INCLUDE OT LOGISTICS GROUP'S FLEET OF
INLAND VESSELS
    * UNDER SAID OFFER DEAL WOULD TAKE PLACE ON "CASH AND DEBT
FREE"
BASIS
    * THE COMPANY CURRENTLY OWNS 81.08% SHARE CAPITAL IN
DEUTSCHE
BINNENREEDEREI
    * THE COMPANY EXPECTS THAT THE POSSIBLE FINALIZATION OF THE
PLANNED TRANSACTION WOULD TAKE PLACE IN H1 2020

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM6XhTyFa
    
 Further company coverage:  OTSL.WA  
   


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