Intelligent Energy Holdings Plc completed the acquisition of portable fuel cell and disposable fuel cartridge assets from Societe BIC SA (ENXTPA:BB).
April 07, 2015 at 12:00 am EDT
Intelligent Energy Holdings Plc (LSE:IEH) signed a binding agreement to acquire portable fuel cell and disposable fuel cartridge assets from Societe BIC SA (ENXTPA:BB) for 19.5 million on February 27, 2015. Under the terms of the transaction, 11.5 million will be paid at closing and 1.8 million will be deposited in an escrow account at closing to be paid once transition services are completed. The agreement includes a potential earn out up to 6.2 million. Closing is expected by the end of March 2015. Proskauer Rose LLP acted as the legal advisor for Intelligent Energy Holdings Plc.
Intelligent Energy Holdings Plc (LSE:IEH) completed the acquisition of portable fuel cell and disposable fuel cartridge assets from Societe BIC SA (ENXTPA:BB) on April 7, 2015.