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At an extraordinary general meeting at Uniflex AB (UFLXB: SS) held yesterday, the shareholders approved the board’s proposal to acquire 100% stake in Utvecklingshuset (Development House), a subsidiary of rival recruitment firm Poolia.
The details of the transaction as agreed at the meeting are an initial payment of SEK 3.5 million (€394,830), followed by an additional consideration of up to SEK 4.5 million (€507,635) contingent on the subsidiary’s performance in 2014.
The approval for the acquisition was subject to the approval of 90% of Uniflex’s shareholders. For further information relating to the acquisition, please click here.