WPIL Ltd. European subsidiary Gruppo Aturia has entered into a binding Share Purchase Agreement with newcleo France on 6/08/2023 for sale of its subsidiary Rutschi (consisting of Pompes Rutschi France and Rutschi Fluid AG Switzerland) for a consideration of 68.7million Euros subject to terms and conditions of the SPA.
newcleo is a clean and safe nuclear technology company developing innovative Generation IV reactors using nuclear waste as fuel.
newcleo is focussed on the development of Small Modular Reactors and Rutschi would benefit from access to new growth opportunities and technologies.
The consolidated revenues of Rutschi for FY 2022-23 were Euro 22.3m (10.49% of WPIL consolidated revenues) and Rutschi net worth on 31/03/2023 was Euro 11.63m (11.37% of WPIL consolidated net worth)
The closing of the transaction as per the terms of the SPA is expected in the quarter of Oct- Dec 2023.