December 27, 2017 / 8:17 AM / 2 months ago

BRIEF-Korres Says North Haven Private Equity Asia,Profex And Korres Reach An Investment Agreement

Dec 27 (Reuters) - KORRES NATURAL PRODUCTS SA:

* KORRES SAYS NORTH HAVEN PRIVATE EQUITY ASIA IV, L.P.,PROFEX INC AND GIORGOS KORRES ANNOUNCE AN INVESTMENT AGREEMENT

* KORRES TO CONTRIBUTE TO NISSOS HOLDINGS SHARES REPRESENTING 30% OF SHARE CAPITAL IN EXCHANGE FOR EQUAL SHARES AND PERCENT IN NISSOS

* KORRES SAYS NHPEA AND PROFEX HAVE AGREED TO SUBSCRIBE FOR SHARES IN NISSOS 56% AND 14% RESPECTIVELY FOR CASH, 48.3M EURO IN TOTAL

* KORRES SAYS NISSOS HAS AGREED TO PURCHASE SHARES, REPRESENTING 52.3% OF THE SHARE CAPITAL OF KORRES, AT A PRICE OF 5.08 PER SHARE

* KORRES SAYS AFTER COMPLETION OF THE ABOVE NISSOS WILL HOLD MORE THAN 82% OF KORRES

* KORRES SAYS WILL LAUNCH A MANDATORY TAKEOVER OFFER IN ORDER TO ACQUIRE THE REMAINING SHARES OF KORRES

* KORRES SAYS AGREED PROFEX AND KORRES WILL ENTER INTO AN EXCLUSIVE LICENSE AND SUPPLY AGREEMENT

* KORRES SAYS VIRTUE OF WHICH PROFEX WILL UNDERTAKE THE DISTRIBUTION OF KORRES PRODUCTS IN CHINA, HONG KONG AND MACAU

* KORRES SAYS CAPITAL INCREASE OF UP TO €10 MILLION WILL BE IMPLEMENTED BY THE SHAREHOLDERS OF NISSOS TO FUND THE EXPANSION OF GROUP Source text : bit.ly/2DW4FMJ Further company coverage: (Gdynia Newsroom)

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