SIMRIS ALG SIGN LETTER OF INTENT TO ACQUIRE CYANO BIOTECH AS A FIRST STEP TOWARDS BIOPHARMA
Simris Alg AB (publ), is pleased to announce that it entered into a binding Letter Of Intent (“LOI”) to acquire 100% of the shares in Cyano Biotech GmbH on 12[th] June. Cyano Biotech is a profitable business with an average turnover of €516k and an EBITDA of €114k over the past two years. As negotiations on the terms of the deal are almost complete, and the deal is due to complete by end of August, the companies agree that this is the appropriate time to announce the planned acquisition.The signed agreement includes exclusivity until 25[th] August and the deal is subject to customary due