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.