Shanghai SafBon Investment Co., Ltd completed the acquisition of 64.38% stake in ItN Nanovation AG from Coreo AG and Stoll families.
Shanghai SafBon Investment Co., Ltd signed a memorandum of understanding to acquire 64.38% stake in ItN Nanovation AG from Coreo AG (XTRA:NNS) and Stoll families for 1.5 million on August 2, 2016. Under the transaction, SafBon will acquire 9.67 million shares at 0.1 per share. The deal also involves Safbon buying ItN's 17.7 million debt from creditors Stoll and SWIM Beteiligungs GmbH for 0.95 million. In a related transaction, Shanghai SafBon Investment agreed to subscribe 1.5 million new shares for 2 per share. The transaction is subject to regulatory approval. The transaction is expected to close on September 30, 2016.
Shanghai SafBon Investment Co., Ltd completed the acquisition of 64.38% stake in ItN Nanovation AG from Coreo AG (XTRA:NNS) and Stoll families in autumn 2016.