NIBE Industrier to acquire WaterFurnace via plan of arrangement

Sweden's NIBE Industrier AB announced an agreement to acquire 100% of WaterFurnace Renewable Energy at C$30.60 per share in cash (a 27% premium), subject to shareholder, court and antitrust approvals, expected to complete in August 2014.

“WaterFurnace Renewable Energy Inc. and NIBE Industrier AB of Sweden announced that they have entered into an agreement whereby NIBE will acquire 100 percent of the outstanding shares of WaterFurnace by way of a plan of arrangement under the Canada Business Corporations Act.”

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