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MICRO INKS TO ACQUIRE US FIRM HOSTMANN STEINBERG.
MUMBAI, Feb 1 Asia Pulse - Micro Inks (BSE:532886) will acquire US-based Hostmann Steinberg (HST) from MHM Holding GmbH, Germany, for a total consideration of US$4 million.
The acquisition of 100 per cent equity capital and preferred stocks in HST, which would be through Austria-based Micro Inks GmbH, a wholly owned subsidiary of Micro Inks, and would be effective from January 1, 2007, Micro Inks said in a communique to the Bombay Stock Exchange.
Micro Inks would provide necessary funding for the above acquisition by investing up to US$4.05 million by way of equity in its wholly owned subsidiary Micro Inks GmbH, Austria, it added.
After the aforesaid acquisition Austria-based Micro Inks GmbH, would own 100 per cent of Micro Inks Corporation, and Hostmann-Steinberg.
The board, at its meeting held on January 31, also approved the merger ...
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