OT Logistics sold its subsidiary and fleet for EUR 18.1 million net

‘At the same time, on 15 July 2020, the issuer concluded a conditional option and share transfer agreement with Carl Robert Eckelmann GmbH (DBR minority shareholder) (CRE) for 16,13% of the shares in DBR owned by CRE. Under this agreement, CRE has the option to sell these shares to the issuer, and the issuer has the option to purchase these shares from CRE for a price of EUR 850 000. According to the SPA [share sale agreement], after the option (sale or purchase) of shares acquired by the issuer from CRE will be sold to Rhenus at the close of the transaction for an amount of EUR 850 000" - reads the Communication.

‘The implementation of the transaction is the execution by the issuer’s capital group of an important element of the resolution plan for the activities undertaken to dispose of part of the assets by the issuer, while preserving the issuer’s activity in servicing customers in the inland waterway segment using part of the assets sold. The transaction will significantly reduce the issuer's capital group's debt to its financial creditors," OT Logistics emphasises.

Source: ISBnews