Accentia Technologies to acquire 3 companies in USA

Accentia Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on April 10, 2007, inter alia, has considered the following:

1. The Company has Completed the formalities for the acquisition of 3 Companies in USA and formal announcement in this regard will be made by the Company after due conclusion of Legal Documentation. The Company appointed M/s. Kenneth Falk & Co. USA as their legal advisors, to conclude the legal documentation the USA acquisitions.

2. Over and Above the organic Growth, The Company in-organically, through 3 acquisition in USA is going to add USD 10M to its Topline in the year 2007-08.

3. The Company's plans for proposed GDR / FCCB have picked up momentum as the Company has already appointed the Merchant Bankers for the issue and is in the process of short listing the Depository Participants for the issue.

Source : Equity Bulls

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