ASX-listed engineering solutions provider Legend Corporation will acquire “selected assets” of System Control Engineering.
“Legend will acquire SCE for $10.2 million by way of an
initial payment of $9.2 million upon completion with the remaining $1 million
payable 31 December 2015,” this morning’s statement reads.
The
agreement reached will cover selected assets of SCE’s Australian operations and
the shares of New Zealand’s System Control Engineering Limited.
SCE is a
nearly-half-century old supplier to the HVAC & R industry, and will continue
as a distinct division of Legend Corporation.