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Altech Chemicals - 25% Sale of Altech Industries Germany Finalised


Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) is pleased to announce that it has now finalised the sale of 25% of its German subsidiary, Altech Industries Germany GmbH (AIG), for € 5.0 million (~A$ 8.3 million) to Frankfurt Stock Exchange listed Altech Advanced Materials AG (AAM).

On 26 October 2020, Altech announced that it had executed a Memorandum of Understanding (MOU) with AAM for AAM to acquire 25% of the shares of AIG for €5.0 million, with Altech to retain ownership of the remaining 75%. Consideration for the sale is structured as follows...

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