HLE Glascoat Limited completes acquisition of Thaletec

HLE Glascoat Limited had entered into a Share Purchase Agreement with Dr Jurgen Reinemuth and Mr Karl Heinz Bergmann for acquisition of Dr Jurgen Reinemuth's and Mr Karl Heinz Bergmann's entire shareholding in Thaletec GmbH ("Thaletec") constituting 100% (one hundred percent) of the share capital of Thaletec on a fully diluted basis, subject to the receipt of regulatory approvals and compliance of applicable laws and conditions.

The aforesaid transaction(s) has received the necessary clearance from the Federal Ministry for Economic Affairs and Energy of Germany.

Further, on December 17th, 2021, the Company has completed the acquisition of 100% shareholding of Thaletec, in line with the Share Purchase Agreement executed earlier. Thaletec has a wholly owned subsidiary, Thaletec Inc., USA. The acquisition has been completed for an aggregate consideration of Euro 12 Million, which has been remitted.

Shares of HLE Glascoat Limited was last trading in BSE at Rs. 5862.50 as compared to the previous close of Rs. 5852.85. The total number of shares traded during the day was 1219 in over 783 trades.

The stock hit an intraday high of Rs. 5995.00 and intraday low of 5731.00. The net turnover during the day was Rs. 7071882.00.

Source : Equity Bulls

Keywords

HLEGlascoat INE461D01010 Acquisition Thaletec