GLV launches takeover bid for Christ Water

Holders of Christ Water Technology shares will be offered €3.35 in cash per share representing a total equity purchase price of approximately C$105 million, in addition to GLV assuming an estimated C$48 million of net debt from the company.

GLV’s offer has received the support of Christ Water Technology’s largest shareholder, Andreas Weissenbacher, who holds approximately 27% of the shares.

GLV plans to close the takeover in November or December 2009.