AGES Industri AB (OM:AGES B) entered into a non-binding Letter of Intent to acquire WR Controls Group AB from Albin Invest AB, Investment AB Klöverön and Magnus Clenow.

AGES Industri AB (publ) (OM:AGES B) entered into a non-binding Letter of Intent to acquire WR Controls Group AB from Albin Invest AB, Investment AB Klöverön and Magnus Clenow on March 9, 2017. The purchase price is intended to be paid through a private placement (non-cash) of 4.5 million B shares. In addition, concerns AGES as part of the purchase price issue 375,000 convertible bonds to the Sellers. A final agreement is conditional upon the general meeting approves the acquisition of AGES and decide on a directed issue of shares and convertible bonds to the Sellers, the Competition Authority, where appropriate, approve the acquisition and due diligence has been completed satisfactorily. Considering the above conditions, the acquisition is to be completed during the second quarter of 2017.