EGLO Leuchten GmbH signed a share purchase agreement to acquire Retail connected lighting activities of AwoX S.A. (ENXTPA:AWOX) at a valuation of €3 million on May 18, 2020. Under the terms, sale will take place in cash at a valuation of €3 million at a multiple turnover of 1.2x. Before completion, AwoX will make a partial contribution of assets by AwoX from its retail lighting branch of activity connected to a newly formed company, called AwoX Lighting and wholly owned by AwoX, on the basis of a valuation of €3 million. AwoX will then sell 100% shares in AwoX Lighting to Eglo. The target activities had a turnover of €2.5 million and an EBITDA loss of €0.74 million in 2019. Completion of the sale remains subject in particular to a process of information and consultation of employee representative bodies and to the approval of the partial contribution of assets by the shareholders of AwoX. On June 26, 2020, the shareholders of AwoX approved the transaction in a combined general meeting. Transaction is expected to close in the course of the 3rd quarter 2020. The proceeds from the sale of these connected Lighting retail activities will help strengthen AwoX's financial structure and continue its development in the world of Smart Home. EGLO Leuchten GmbH completed the acquisition of Retail connected lighting activities of AwoX S.A. (ENXTPA:AWOX) on September 14, 2020. The target has a net value of €1.3 million in 2019.