DGAP-News: Partial Sale of Block of Voltabox Shares Expected in March
DGAP-News: paragon GmbH & Co. KGaA
/ Key word(s): Letter of Intent
Partial Sale of Block of Voltabox Shares Expected in March
Delbrück, Germany, February 10, 2021 - The due diligence conducted by Swiss investors in the context of the sale of the Voltabox shares has been completed successfully. The negotiations on the sale of the block of shares owned by paragon [ISIN DE0005558696] look set to be finalized in March.
As previously reported on December 10, 2020, paragon and Swiss investors signed a letter of intent for the sale of the first block of Voltabox AG shares in December. The agreement provides for the acquisition of 18% of the share capital and the granting of call options for acquiring further shares of up to around 32% of Voltabox's share capital owned by paragon.
The due diligence conducted by Swiss investors has now been completed successfully. paragon is currently reviewing further proposals from the buyers on the structure of the transaction. It is possible that the percentages could shift between the package to be acquired immediately and the further packages to be acquired by exercising call options.
The potential new shareholders of Voltabox AG were impressed by the progress the company made in the methodical preparations of the market launch of the innovative Voltabox-Flow-Shape-Design(R). Voltabox is currently processing a number of domestic and international inquiries, while at the same time creating the conditions for the industrialization of the technology.
In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Neu-Ulm (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Oroslavje (Croatia) and Austin (Texas, USA).
Additional information about paragon can be found at www.paragon.ag.
|Company:||paragon GmbH & Co. KGaA|
|Phone:||+49 (0)5250 97 62 - 0|
|Fax:||+49 (0)5250 97 62 - 60|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1167488|
|End of News||DGAP News Service|