NBI Bearings Europe, S.A. (BME:NBI) agreed to acquire 91.2% stake in Industrias Metalurgicas Galindo, S.L for €1.5 million on January 29, 2020. The acquisition agreement, signed once the due diligence process has been satisfactorily completed, will materialize as a combination of purchase of shares and capital increase, until reaching a 91.2% stake in Galindo. The amount to be disbursed for the acquisition amounts to €1.5 million.

The subsequent capital increase of €1 million will be used to boost the growth plan. The purchase is made with resources available in NBI, with its disbursement being planned in February 2020. The remaining 8.8% of the share capital will continue to be owned by the Director General of Galindo.

The transaction is expected to complete in the coming days. CDI Global Iberia acted as financial advisor to NBI Bearings.