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Emefcy expected to merge with RWL

Water technology company, Emefcy, is expected to tell the Australian Securities Exchange (ASX) tomorrow it will merge with RWL, a global water company.
RWL was established by Ronald S Lauder, heir the giant cosmetic company Estee Lauder and is based in New York.

RWL was established by Ronald S Lauder. Picture: Getty
RWL and Emefcy announced on May 5 the two would enter a binding agreement to merge the companies and the ASX announcement Thursday is expected to reveal that the deal has been completed.
Under the arrangement, the two companies will have had combined revenues of $A83 million in 2016 and a sales forecast or $120 million 2017.
The combined group will be called Fluence and plans to roll out water and wastewater treatment programs in its key markets which it emphasised were in the municipal, commercial, industrial and mining sectors.
An earlier announcement said Emefcy would issue 100.5 million new Emefcy shares to RWL Water’s owner, an entity controlled by Mr Lauder.
Those shares would be subject to a 2-year lock-up agreement, under which Mr. Lauder would only be allowed to sell the shares under limited circumstances.
Fluence will remain listed on the ASX.

http://www.theaustralian.com.au/bus...l/news-story/bcdc28e0d8220ca14e81f074f6a0525e

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