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Landis+Gyr Group AG
M&A Activity • Jul 30, 2021
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News Details
Ad-hoc | 30 July 2021 17:40
Landis+Gyr Closes Acquisition of EV Infrastructure Provider Etrel d.o.o.
Landis+Gyr Group AG / Key word(s): Acquisition
30-Jul-2021 / 17:40 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
The closing of the previously announced acquisition of Etrel further expands Landis+Gyr’s growing Electric Vehicle (EV) business with residential and public charging hardware and software solutions.
Cham, Switzerland – July 30, 2021 – Landis+Gyr (SIX: LAND), a leading provider of integrated energy management solutions, today announced the successful registration of the transfer of 75% of the shares of Etrel d.o.o., a provider of interactive charging hardware and software solutions for electric vehicles, with headquarters in Grosuplje, Slovenia, for a mid-range double digit million Euro purchase price, to Landis+Gyr with effect as of July 29, 2021. The current management will continue to hold 25% in Etrel. The transaction was first announced in April 2021 and the Company has now obtained the required customary governmental approvals under customary closing conditions. Pursuant to the respective agreement, Landis+Gyr has the option to acquire the remaining 25% of the shares in Etrel in May 2024.
About Landis+Gyr
Landis+Gyr is a leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, we deliver innovative and flexible solutions to help utilities solve their complex challenges in Smart Metering, Grid Edge Intelligence and Smart Infrastructure. With sales of USD 1.4 billion in FY 2020, Landis+Gyr employs more than 5,000 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better. For more information, please visit our website www.landisgyr.com .
About Etrel
Etrel provides building blocks for a diverse range of e-mobility solutions. Our interactive charging stations, complemented with the advanced OCEAN software suite, are a backbone of any e-mobility business. As a leading research and development player in the Smart Grid industry, Etrel plays a key role in global trend setting. Read more about Etrel here: www.etrel.com .
Contact Media
Melissa van Anraad
Head of PR
Phone +41 41 935 6398
Eva Borowski
SVP Investor Relations & Corporate Communications
Phone +41 41 935 6396
Contact Investors
Christian Waelti
Head of Investor Relations
Phone +41 41 935 6331
End of ad hoc announcement
| Language: | English |
| Company: | Landis+Gyr Group AG |
| Alte Steinhauserstrasse 18 | |
| 6330 Cham | |
| Switzerland | |
| E-mail: | [email protected] |
| Internet: | www.landisgyr.com |
| ISIN: | CH0371153492 |
| Valor: | 37115349 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1223162 |
| End of Announcement | EQS Group News Service |