Landi Renzo S.p.A., developer of CNG and LPG automotive fuel systems and components, has signed an agreement to acquire a 100 % stake in AEB, for a total consideration of approximately Euro 42 million. The final price is subject to adjustment mechanisms based on the value of the net financial position of AEB on 30 June 2010. Founded in 1984, AEB Alternative Fuel Electronics designs and builds electronic devices for converting vehicles to run on CNG or LPG. One of the main reasons cited for the strategic acquisition is to enable the Landi Group to consolidate its technology leadership in national and international markets with significant benefits arising from the integration of technical facilities and know-how for industrial design of electronic components.
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