Sprintquip Pty Ltd has today agreed to purchase all shares in Banking Automation Ltd from Traction and the other shareholders. Banking Automation is an English company that develops, designs and distributes deposit machines, bill payment machines and cash exchange machines, primarily for banks, transport companies and shopping centres. Banking Automation was founded in 1984 and Traction has been an owner since 1986.
The consideration for Traction's shares is expected to be approximately £3M, which only has a marginal positive effect on Traction's result for 2017.
Reading, UK, December 19, 2017
AB Traction
Petter Stillström
Traction divests its shares in Banking Automation Ltd (http://hugin.info/86925/R/2157165/829094.pdf)
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Source: AB Traction via Globenewswire
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AB Traction via Globenewswire
© 2017 GlobeNewswire (Europe)
