Brief: Zinzino Acquires 49% Of Cypriot Olive Oil Producer Cleanthi Alpha-Olenic

Zinzino AB

27/06/2024 10:20

June 27 (Reuters) - Zinzino AB  ZZb.ST :
    * ZINZINO AB (PUBL.): ZINZINO ACQUIRES 49% OF CYPRIOT OLIVE
OIL
PRODUCER CLEANTHI ALPHA-OLENIC LTD
    * PAYS A FIXED PURCHASE PRICE OF EUR 1.9 MILLION AT CLOSING,
OF
WHICH EUR 1.2 MILLION IN NEWLY ISSUED ZINZINO SHARES
    * IN ADDITION, CLEANTHI WILL RECEIVE EUR 0.5 MILLION THROUGH
A NEW
ISSUE OF ZINZINO
    * CASH PART OF PURCHASE PRICE AND NEW SHARE ISSUE IS
FINANCED
THROUGH GROUP'S OWN CASH
    * ZINZINO ALSO RECEIVES AN OPTION TO ACQUIRE AN ADDITIONAL
1% OF
COMPANY FROM SELLERS FOR EUR 1

Source text for Eikon:  ID:nWkrt2spD 
Further company coverage:  ZZb.ST 

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