Landis+Gyr Closes Acquisition of EV Infrastructure Provider Etrel d.o.o. Freitag, 30. Juli 2021 - 17:41
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Landis+Gyr Group AG / Key word(s): Acquisition Landis+Gyr Closes Acquisition of EV Infrastructure Provider Etrel d.o.o. Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. The closing of the previously announced acquisition of Etrel further expands Landis+Gyr's growing Electric Vehicle (EV) business with residential and public charging hardware and software solutions. Cham, Switzerland - July 30, 2021 - Landis+Gyr (SIX: LAND), a leading provider of integrated energy management solutions, today announced the successful registration of the transfer of 75% of the shares of Etrel d.o.o., a provider of interactive charging hardware and software solutions for electric vehicles, with headquarters in Grosuplje, Slovenia, for a mid-range double digit million Euro purchase price, to Landis+Gyr with effect as of July 29, 2021. The current management will continue to hold 25% in Etrel. The transaction was first announced in April 2021 and the Company has now obtained the required customary governmental approvals under customary closing conditions. Pursuant to the respective agreement, Landis+Gyr has the option to acquire the remaining 25% of the shares in Etrel in May 2024. About Landis+Gyr About Etrel Contact Media Eva Borowski Contact Investors End of ad hoc announcement |
