Post by
Croptimal on Feb 07, 2018 7:55pm
SICPA OWNS 11.6 MILLION SHARES EUO TAKEOVER
Gilles Lraill, Executive Vice President, Business Development of SICPA, stated: The signing of the final purchase agreement for GFI constitutes, for the SICPA Group, a breakthrough for its existing traceability business that will now be extended to the promising oil marking and monitoring field. The basis of this transaction is the good synergy between SICPA and GFI which both offer comprehensive solutions in their respective fields for the authentication and monitoring of key tax carrying goods and items. Both companies work exclusively with governmental authorities in different countries where SICPA already has sizeable operations and therefore where the introduction of GFI will be facilitated. Equally, both organizations are used to providing top of the range, latest technology-based solutions, pledging at the same time to provide un-contaminated and robust data to state institutions. Another unique characteristic of this transaction is the partnership type of agreement that is envisaged for a noticeable period of time, instead of the typical seller-buyer relationship. In this way, the two parties teams can be harnessed to maximize the chances of success and the realization of a promising upside for both Eurocontrol and the SICPA group.