ÅMÅL, Sweden--(BUSINESS WIRE)--Regulatory News:
The first of July 2015, Opcon (STO:OPCO), the energy and environmental technology Group, communicated that it had signed a share purchase agreement concerning the sale of the Group’s business in compressor technology and Waste Heat Recovery. The deal includes the newly formed holding company, Opcon Compressor Technology AB, and the subsidiaries Svenska Rotor Maskiner AB, Opcon Energy System AB as well as 48.9796% of the shares in the joint venture in China, Fujian Opcon Energy Technology Co. Ltd. The acquisition also includes all the intellectual property rights relating to compressor technology and Opcon Powerbox.
The share purchase agreement was been signed with the Chinese investment fund, Shanghai XingXueKang Investment Partnership, which is controlled by the Chinese investment company, Fujian XingXueXuanYuan Capital Management Co., Ltd. This investment company was set up by Chinese Investors and to 29% by Fujian Snowman Co. Ltd., who has also provided a 20 m SEK Guarantee to Opcon for the realization of the transaction.
The agreement is conditional on acceptance being given by an extra meeting of Opcon AB shareholders, which will be held on July 24 2015, and on acceptance by the investment committee of Fujian XingXueXuanYuan Capital Management Co. Ltd.
The investment committee of Fujian XingXueXuanYuan Capital Management Co., Ltd. has now given its approval.
Advisors to Opcon have been Awapatent AB, Hamilton Advokatbyrå and Erik Penser Bankaktiebolag. Legal advisor for the Buyer has been Advokatfirman Vinge.
Opcon AB, Box 15085, 104 65 Stockholm, Sweden
Tel. 08-466 45 00, fax 08-716 76 61
The Opcon Group
Opcon is an energy and environmental technology Group that develops, produces and markets systems and products for eco-friendly, efficient and resource-effective use of energy.
Opcon has activities in Sweden, Germany and the UK. There are around 140 employees. The company’s shares are listed on Nasdaq OMX Stockholm. The Group comprises one business area:
Renewable Energy focuses on the following areas: compressor technology, electricity generation based on waste heat, bioenergy-powered heating and CHP plants, pellets plants, handling systems for biomass, sludge, recycling industry and natural gas, industrial cooling, flue gas condensation, treatment of flue gases and air systems for fuel cells.
Opcon AB (publ) is obliged to disclose the information in this press release in accordance with the Swedish law governing the securities markets and/or trading in financial instruments. The information was submitted for publication at 13.00 (CET) on Thursday July 23 2015.
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