July 6, 2017 / 5:19 PM / a year ago

BRIEF-GEA Technologies and Dropleaf announce definitive agreement for proposed merger

July 6 (Reuters) - GEA Technologies Ltd :

* GEA Technologies and Dropleaf jointly announce entering into definitive agreement for proposed merger

* GEA Technologies Ltd - Amalgamation is structured as a three‐cornered amalgamation

* GEA Technologies Ltd - As a result, amalgamated corporation will become a wholly‐owned subsidiary of GEA on closing

* GEA Technologies Ltd - Entered into a share exchange and merger deal with Dropleaf LLC, pursuant to which unit of GEA will amalgamate with Dropleaf

* GEA Technologies Ltd - As consideration for deal, GEA will issue about 16.6 million GEA common shares and 1.8 million GEA preferred shares

* GEA Technologies Ltd - GEA’s common shares will remain halted until transaction is completed

* GEA Technologies Ltd - Transaction has been structured so that resulting issuer qualifies as a foreign private issuer in United States

* GEA Technologies - As per deal, Dropleaf holders will receive ONE gea common share and 0.11048 GEA preferred shares for each Dropleaf share held Source text for Eikon: Further company coverage:

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