Plan to acquire 100% of Steinmüller Babcock Environment GmbH and make it a subsidiary
First written in FY2022-Q3. 1 of 2 entries say "Achieved", first in FY2022. Latest entry: FY2022.
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- FY2022AchievedAnnual report
「Share acquisition closing date: 9 February 2022」
For SBE, the 100% share acquisition and consolidation as a subsidiary was completed on 9 February 2022, following the acquisition resolution and contract signing in December 2021. - FY2022-Q3First statedAnnual report
「At a meeting of its Board of Directors held on 8 December 2021, the Company resolved that its consolidated subsidiary Hitachi Zosen Inova AG (Zurich, Switzerland; “HZI”) would acquire shares in Steinmüller Babcock Environment GmbH (Gummersbach, Germany; “SBE”), which operates the design, procurement, construction and maintenance of waste-to-energy facilities in Europe and the design, procurement and construction of flue-gas treatment facilities for thermal power plants and other facilities, and make SBE a subsidiary (the “Transaction”). HZI consequently entered into a share transfer agreement with SBE’s shareholder, Nippon Steel Engineering Co., Ltd., on 9 December 2021.」
The Company resolved that HZI would acquire all shares of SBE and make it a subsidiary, and entered into a share transfer agreement. The acquisition closing date was set as 9 February 2022, and the acquisition price was not disclosed.