MONTREAL, Feb. 23 /CNW Telbec/ - Management of GLV Inc. ("GLV"; ticker symbols GLV.A, GLV.B/TSX) is pleased to announce that a total of 92.60% of the shares of Christ Water Technology AG ("CWT"; ticker symbol CWT/Vienna Stock Exchange) are now held by GLV as of the expiration of the tendering period on February 19, 2010, at 4:00 p.m. (Vienna time).
As the percentage of shares acquired and tendered exceeds the 90% minimum required threshold, GLV will proceed with the squeeze-out of the remaining 7.40% of CWT's shares which have not yet been tendered, and then delist CWT's stock from the Vienna Stock Exchange in order to privatize CWT.
GLV is a leading global provider of technological solutions used in water treatment as well as in pulp and paper production. GLV and its subsidiary CWT are present in some 30 countries and, as of the date hereof, have approximately 2,350 employees.
SOURCE GLV Inc.
For further information: For further information: Marc Barbeau, CA, Executive Vice-President and Chief Financial Officer, (514) 284-2224, email@example.com; www.glv.com