(Alliance News) - Esautomotion Spa on Monday announced that it has finalized the company's acquisition of 65 percent of the share capital of a newly established company, Sangalli Servomotori Srl, the NewCo.

Under the terms of the Investment Agreement, the total consideration for the purchase of NewCo's entire share capital is a total of EUR10 million from which any positive net financial position -- or net financial debt -- of NewCo as of July 7, subject to adjustment mechanisms similar to those usual for similar transactions, is to be deducted.

Esautomotion on Monday trades in the red by 0.2 percent at EUR4.63 per share.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.