The SPA, which was entered into by Nordic Group’s wholly-owned subsidiary, Avitools Singapore Pte. Ltd, was completed on the same day. Following the acquisition, Eratech will be a wholly-owned subsidiary of the group.
Nordic Group has entered into a sale and purchase agreement (SPA) to acquire all the shares in Eratech for $10 million on Aug 25.
The consideration comprises a cash payment of $7.0 million to be made upon completion and the remaining $3.0 million to be paid six months from the date of completion.
