Brief: Stabilus Partners Up With Cultraro Automazione Engineering

Stabilus SE

22/11/2021 08:12

Nov 22 (Reuters) - STABILUS SA  STAB.DE :
    * ENTERS INTO PARTNERSHIP WITH CULTRARO AUTOMAZIONE
ENGINEERING
S.R.L., EXPANDING ITS RANGE TO INCLUDE SMALL-FORMAT MOTION
CONTROL APPLICATIONS
    * PARTIES HAVE AGREED NOT TO DISCLOSE FURTHER FINANCIAL
DETAILS OF
TRANSACTION
    * TRANSACTION IS EXPECTED TO BE COMPLETED IN NOVEMBER 2021
    * ACQUIRES 32 PERCENT OF SHARES FROM COMPANY'S FOUNDERS
    * PARTNERSHIP FOCUSES ON EXPANDING PRODUCT RANGE IN FIELD OF
MOTION CONTROL
    * PURCHASE PRICES OF STAKES IN CULTRARO AND SYNAPTICON
TOGETHER
AMOUNT TO A FIGURE IN LOW DOUBLE-DIGIT MILLION EURO RANGE AND
WILL BE FINANCED WITH CASH.

Source text for Eikon:  ID:nEQpm2JTa 
Further company coverage:  STAB.DE 

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