International technology Group ANDRITZ (ADRZF.PK) based in Graz, Austria, said it has signed an agreement with Schuler-Beteiligungen GmbH to acquire the entire 38.5% interest held by Schuler-Beteiligungen in publicly listed Schuler AG. The price per share amounts to 20 euros in cash.
ANDRITZ noted that it has a net cash position of approximately 1.3 billion euros as of the end of March 2012 and is thus able to acquire Schuler out of its own financial resources.
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by RTT Staff Writer
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