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Procurri acquires remaining 49% stake in Rockland JV for US$22 mil

Buyout

Procurri acquires remaining 49% stake in Rockland JV for US$22 mil

Michelle Zhu Published on Mon, Nov 19, 2018 / 7:29 AM GMT+8

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SINGAPORE (Nov 19): Procurri Corporation is acquiring the remaining 49% stake it does not already own in US joint venture (JV) company, Rockland Congruity, for US$22 million ($30.2 million).

The consideration is to be paid in two tranches, with US$12 million due upon completion of the purchase, and another US$10 million in Jan 2020.

Procurri intends to fund the acquisition using internal resources and/or bank loans.

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