MONTREAL, June 30 /CNW Telbec/ - GLV Inc. (TSX: GLV.A, GLV.B) announced today that it has officially initiated the process in order to privatize Christ Water Technology AG (CWT). As previously announced on February 19, 2010, the Company holds 92.60% of CWT's outstanding shares. As this percentage exceeds the 90% minimum required threshold, the Company can proceed with the squeeze-out of the remaining shares.
The decision regarding the squeeze-out will be presented for approval at CWT's Annual General Meeting, to be held on July 30, 2010. CWT's minority shareholders will receive 2.10 Euros per share, which is considered to be the appropriate compensation in accordance with applicable statutory rules. Documents relative to the squeeze-out can be downloaded from the Investors section of CWT's website (www.christwater.com/EN/).
About GLV Inc.
GLV is a leading global provider of technological solutions used in water treatment as well as in pulp and paper production. GLV is present in some 30 countries and has approximately 2,350 employees. GLV is a publicly traded company whose shares are listed on the Toronto Stock Exchange under the symbols GLV.A and GLV.B. It is one of the constituents for the new S&P/TSX Clean Technology Index.
SOURCE GLV Inc.
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