Altech Chemicals Ltd (ASX:ATC) 25% Sale of Altech Industries Germany Finalised
25% Sale of Altech Industries Germany FinalisedPerth, Dec 23, 2020 AEST (ABN Newswire) - Altech Chemicals Limited (
FRA:A3Y) is pleased to announce that it has now finalised the sale of 25% of its German subsidiary, Altech Industries Germany GmbH (AIG), for EUR 5.0 million (~A$ 8.3 million) to Frankfurt Stock Exchange listed Altech Advanced Materials AG (AAM).
Highlights
- Acquired by Frankfurt Stock Exchange listed Altech Advanced Materials AG
- EUR5.0 million (A$8.3 million) payable over 3 years
- Initial EUR250,000 cash consideration received
- AIG has the right to use Altech s HPA manufacturing technology