CWT INT'L (00521) issued an announcement on January 8, 2024 (after trading session...
Zhitong Financial App News, CWT INT'L (00521) issued an announcement. On January 8, 2024 (after the trading period), CWT Globelink, an indirect wholly-owned subsidiary of the company, entered into a sales agreement with the seller Joaquín Pueyo Giménez. According to this, CWT Globelink agreed to acquire, and the seller agreed to sell shares of the target company Globelink Uniexco, S.L.360 (30% of the total number of shares issued by the target company) at a total cost of 4.8 million euros .
According to the announcement, the target company is mainly engaged in freight forwarding business and operates important maritime routes connecting Spain to the world. It is an important market for the Group and a hub for Latin America and Africa. After considering the financial performance of the target company, directors (including non-executive directors) believe that the terms of the sale agreement are fair and reasonable, and that the sale agreement and the transactions to be carried out under it are based on general or better commercial terms, which conforms to the overall interests of the company and shareholders.
Furthermore, trading continues to be suspended.