Following the acquisition, which was completed on the same day, UG Nitrex will be accounted as a joint venture (JV) between UG Healthcare and the sellers of UG Nitrex.
UG Healthcare Corporation has acquired a 50% stake in UG Nitrex, which was formerly known as Nitrex Seguridad Laboral S.L. for a consideration of EUR500,000 ($730,650).
UG Healthcare’s wholly-owned subsidiary, Unigloves (Singapore), entered into a sale and purchase agreement (SPA) with UG Nitrex’s initial shareholders, Spanish private company Afaprot and Maximino Martínez Tilve, on June 5.
