Jun 29, 2018 9:28 AM
Voltabox AG / Key word(s): Mergers & Acquisitions
Management Board of Voltabox decides to acquire all shares in Navitas Systems
Delbrück, Germany, June 29, 2018 - The Management Board of Voltabox AG (ISIN DE000A2E4LE9) today decided, subject to the approval of the Supervisory Board, to sign through Voltabox of Texas, Inc, Austin/Texas, a wholly owned subsidiary of Voltabox AG, a purchase agreement with the shareholders of Navitas Systems, LLC, Woodridge, Illinois, to acquire all shares in Navitas Systems, a manufacturer of lithium-ion battery systems for intralogistics, transportation, renewable energy and other applications primarily operating in the USA. The purchase price is expected to be 43 million US dollars (equivalent to around 37 million euros). The execution of the agreement will be subject to various closing conditions, in particular approval or release by various US authorities.
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