May 24, 2018 / 12:21 AM / 5 months ago

BRIEF-Landis+Gyr And Pacific Equity Announce JV For Acquisition Of Acumen Metering Business

May 23 (Reuters) - Landis&Gyr Group AG:

* LANDIS+GYR AND PACIFIC EQUITY PARTNERS ANNOUNCE JOINT VENTURE FOR ACQUISITION OF ACUMEN METERING BUSINESS

* JOINT VENTURE WILL BE KNOWN AS INTELLIHUB HOLDINGS PTY LTD

* LANDIS&GYR GROUP- JOINT VENTURE HAS RAISED STARTING POSITION IN EXCESS OF A$500 MILLION OF CAPITAL TO FINANCE ROLLOUT OF SMART METERS IN AUSTRALIA

* WILL BE CONTRIBUTING BOTH CASH AND ITS INTELLIHUB BUSINESS WITH COMBINED EQUITY VALUE OF UP TO AUD 75 MILLION Source text for Eikon: Further company coverage:

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