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BRIEF-Eltek signs definitive agreement for sale of Kubatronik-Leiterplatten GmbH
December 19, 2016 / 2:42 PM / 10 months ago

BRIEF-Eltek signs definitive agreement for sale of Kubatronik-Leiterplatten GmbH

Dec 19 (Reuters) - Eltek Ltd

* Eltek signs a definitive agreement for the sale of Kubatronik-Leiterplatten GmbH

* Eltek Ltd says Kubatronik shall continue to manage Eltek Europe GmbH, and Avi Gal shall continue to serve as Kubatronik’s CEO, on a part-time basis

* Eltek Ltd says following consummation of transaction, Eltek will recognize a loss of us $675,000

* Eltek Ltd says in consideration for sale, Eltek shall be entitled to contingent consideration equal to 20% of Kubatronik’s net profit in 2017 Source text for Eikon: Further company coverage:

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