November 20, 2014 / 7:03 AM / 3 years ago

BRIEF-TKH to buy controlling stake in Austrian Commend group

Nov 20 (Reuters) - TKH Group NV :

* Reaches agreement on acquisition of controlling interest in Commend group located in Salzburg (Austria)

* To buy 74 pct of shares of Commend International GmbH, which holds production and development activities

* Commend group develops and manufactures security and communication systems

* Roger Dance to continue his position as managing director of Commend group

* Has option to buy in 2015 international sales organisations of Commend in USA, UK, France, Spain, Italy and 49 pct of Commend Australia

* To increase its shareholding in subsidiaries Commend Benelux BV and Schneider Intercom GmbH to 100 pct by acquiring 25 pct and 5 pct stake respectively

* Acquisition of Commend International expected to be finalised in January 2015

* Acquisition of Commend International to be financed with equity Source text: bit.ly/1xRbA0H Further company coverage: (gdynia.newsroom@thomsonreuters.com; +48 58 698 3920)

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