Grifal S.p.A. (BIT:GRAL) signed a binding agreement to acquire Operating Branch of Tieng Srl for €1.03 million on January 12, 2021. Giancarlo Boffi, will be the Chief Executive Officer and General Manager of the new company. As of February 5, 2021, Grifal S.p.A. has completed 51% take in Operating Branch of Tieng Srl. The acquisition will be carried on by Grifal acquiring a new company, to be established in which Tieng Srl will be transferring the business complex concerning the design and production of plants and machinery for bonding resins and for the automation of packaging. At the time of closing, the newco will have no tax liabilities and will have a balanced net financial position. Grifal S.p.A. (BIT:GRAL) completed the acquisition of Operating Branch of Tieng Srl on Monday 8, 2021.