DGAP-Adhoc: OTI Greentech AG is planning the acquisition of its joint venture partner KMI Cleaning Solutions Inc.

EQS

DGAP-Ad-hoc: OTI Greentech AG / Key word(s): Takeover
OTI Greentech AG is planning the acquisition of its joint venture partner KMI Cleaning Solutions Inc.

16-May-2019 / 09:52 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Publication of insider information according to Article 17 of the MAR

OTI Greentech AG is planning the acquisition of its joint venture partner KMI Cleaning Solutions Inc.

Berlin, 16 May 2019 - OTI Greentech AG (WKN A2TSL2) is planning to acquire 100% of KMI Cleaning Solutions Inc., one of the largest suppliers of cleaning chemicals and equipment for the truck wash market in the USA and in Canada. All issued shares in KMI Cleaning Solutions Inc. are to be acquired from the two founders who each own 50% of the company. To this purpose, the parties have now signed a term sheet. Payment for the shares is to be made by way of issuing new shares in OTI Greentech AG. A pre-condition for the transaction is the completion of the conversion into shares of all convertible bonds issued by OTI Greentech.

The joint venture with KMI Cleaning Solutions has been in operation since May 2017.

Contact:

OTI Greentech AG
John Kisalus, CEO
info@oti.ag
Tel: +49 30 220 136 900
Potsdamer Platz 1, 7th floor
10785 Berlin

edicto GmbH
Axel Mühlhaus, Dr. Sönke Knop
amuehlhaus@edicto.de
Tel.: +49 69 905505-52
Eschersheimer Landstr. 42-44
60322 Frankfurt


16-May-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: OTI Greentech AG
Potsdamer Platz 1
10785 Berlin
Germany
Phone: +49 30 220 136 900
Fax: +49 30 690 884 88
E-mail: info@oti.ag
Internet: www.oti.ag
ISIN: DE000A2TSL22
WKN: A2TSL2
Listed: Regulated Unofficial Market in Dusseldorf
EQS News ID: 812253

 
End of Announcement DGAP News Service

812253  16-May-2019 CET/CEST