Landis+Gyr Closes Acquisition of EV Infrastructure Provider Etrel d.o.o.
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EQS Group-Ad-hoc: Landis+Gyr Group AG / Key word(s): Acquisition The closing of the previously announced acquisition of Etrel further expands Landis+Gyr's growing Electric Vehicle (EV) business with residential and public charging hardware and software solutions. Cham, Switzerland - July 30, 2021 - Landis+Gyr (SIX: LAND), a leading provider of integrated energy management solutions, today announced the successful registration of the transfer of 75% of the shares of Etrel d.o.o., a provider of interactive charging hardware and software solutions for electric vehicles, with headquarters in Grosuplje, Slovenia, for a mid-range double digit million Euro purchase price, to Landis+Gyr with effect as of July 29, 2021. The current management will continue to hold 25% in Etrel. The transaction was first announced in April 2021 and the Company has now obtained the required customary governmental approvals under customary closing conditions. Pursuant to the respective agreement, Landis+Gyr has the option to acquire the remaining 25% of the shares in Etrel in May 2024. About Landis+Gyr About Etrel Contact Media Eva Borowski Contact Investors End of ad hoc announcement |
| Language: | English |
| Company: | Landis+Gyr Group AG |
| Alte Steinhauserstrasse 18 | |
| 6330 Cham | |
| Switzerland | |
| E-mail: | ir@landisgyr.com |
| Internet: | www.landisgyr.com |
| ISIN: | CH0371153492 |
| Valor: | 37115349 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1223162 |
| End of Announcement | EQS Group News Service |
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1223162 30-Jul-2021 CET/CEST
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