Business
Update on Acquisition
Update on Acquisition.
About this update from Cohort Plc
[{"type":"text","content":"\n \nRNS Number : 3010R Cohort PLC 07 March 2016 \n\n7 March 2016\n \nCohort plc\n(\"Cohort\" or \"the Group\")\nUpdate re: Acquisition of Portuguese defence business \nFurther to its announcement on 29 January 2016, Cohort, the independent technology group, is pleased to announce that its proposed acquisition of a controlling stake in Empresa de Investigação e Desenvolvimento de Electrónica, S.A., (\"EID\") has received approval from the Portuguese competition authority (Autoridade da Concorrência).\nCohort's aim remains to acquire a majority stake in EID and we continue to work towards that aim. The new Portuguese government has indicated that it wishes to retain part of its existing holding in the company. Discussions are underway to agree the terms of the relationship between the two future shareholders, and Cohort will make a further announcement in due course.\n Ends \nFor further information please contact:\n\n\n\n\nCohort plc\n\n\n0118 909 0390\n\n\n\n\nAndy Thomis, Chief Executive\n\n\n \n\n\n\n\nSimon Walther, Finance Director\n\n\n \n\n\n\n\nInvestec Bank plc\n\n\n020 7597 5970\n\n\n\n\nKeith Anderson / Daniel Adams\n\n\n \n\n\n\n\nMHP Communications Limited\n\n\n020 3128 8100\n\n\n\n\nReg Hoare / Jamie Ricketts / Ollie Hoare\n\n\n \n\n\n\n\n \nNOTES TO EDITORS\nCohort plc\nCohort is an independent technology group working primarily for defence (air, land and sea), wider government and industry clients, through four market-facing subsidiary companies:\nMASS - a specialist systems house with a focus on electronic warfare operational support, cyber defence and secure information systems. Based in Cambridgeshire, MASS was acquired by Cohort in August 2006;\nMCL - an expert in sour...