MONTREAL, Dec. 31, 2020 (GLOBE NEWSWIRE)
Xebec Adsorption Inc. (TSXV: XBC) (“
Xebec” or the “
Corporation”), a global provider of clean energy solutions, is pleased to announce that it has closed its previously announced acquisition of Green Vision Holding B.V., the parent company of HyGear Technology and Services B.V. (“
HyGear”) for aggregate consideration of €82.0 million (approximately $127.3 million) and the assumption of €18.4 million (approximately $28.6 million) in net debt (the “
Acquisition”). The purchase price for the Acquisition was satisfied by way of a cash payment in the amount of €42.0 million (approximately $65.2 million) and the issuance of 10,014,364 common shares of Xebec.
HyGear was founded in 2002 in Arnhem, The Netherlands, as a clean-tech company specializing in the on-site production and recovery of industrial gases. HyGear is an emerging developer, manufacturer, and supplier of technology and products for the production, rec
MONTREAL, Dec. 31, 2020 (GLOBE NEWSWIRE)
Xebec Adsorption Inc. (TSXV:XBC) (
Xebec or the
Corporation ), a global provider of clean energy solutions, is pleased to announce that it has closed its previously announced acquisition of Green Vision Holding B.V., the parent company of HyGear Technology and Services B.V. (
HyGear ) for aggregate consideration of €82.0 million (approximately $127.3 million) and the assumption of €18.4 million (approximately $28.6 million) in net debt (the
Acquisition ). The purchase price for the Acquisition was satisfied by way of a cash payment in the amount of €42.0 million (approximately $65.2 million) and the issuance of 10,014,364 common shares of Xebec.
HyGear was founded in 2002 in Arnhem, The Netherlands, as a clean-tech company specializing in the on-site production and recovery of industrial gases. HyGear is an emerging developer, manufacturer, and supplier of technology and products for the production, recovery, purificati
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Closing details HyGear/Xebec transaction
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ARNHEM, Netherlands, Dec. 30, 2020 /PRNewswire/
With reference to the press release dated December 8, 2020 announcing that HyGear s shareholders had entered into an agreement (the Agreement ) for the company to be acquired by Xebec Adsorption Inc. (TSXV: XBC), a global provider of clean energy solutions from Montreal, Canada., HyGear now provides further details on the closing of the transaction.
December 31
st, 2020 is the last trading date of depository receipts and warrants in HyGear on NPEX
Taken into consideration that all conditions precedent to closing are fulfilled, the closing of the transaction is scheduled to occur on December 31, 2020 (the Closing ). December 31, 2020 will therefore be the last trading date, following which HyGear s parent company, Green Vision Holding s ( HyGear ) depository receipts (the Depository Receipts (ISIN code NL0012751218) as well as the warrants (ISI
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