DGAP-Ad-hoc: OTI Greentech AG / Key word(s): Takeover
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.
OTI Greentech AG
16-May-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||OTI Greentech AG|
|Potsdamer Platz 1|
|Phone:||+49 30 220 136 900|
|Fax:||+49 30 690 884 88|
|Listed:||Regulated Unofficial Market in Dusseldorf|
|EQS News ID:||812253|
|End of Announcement||DGAP News Service|
812253 16-May-2019 CET/CEST