Together with grosso Holding GmbH (Vienna) as a financial partner, the management of Quanmax AG (Linz) has signed a term sheet today for subscribing to about 80 percent stake in S&T AG (Vienna).
The term sheet defines the conditions of entry into S&T as part of a capital increase as well as the restructuring of financial liabilities. The transaction is subject to conditions that include the consent of the S&T shareholders, the consent of the necessary committees and Monopolies and Mergers Commissions as well as the granting of restructuring privilege by the Acquisition Commission.
The entry into S&T is an important step for Quanmax in implementing the planned expansion into the East. S&T AG is already active in nine East European countries as a well known IT solutions provider and can access the entire Quanmax range of products in the future.