FOR IMMEDIATE RELEASE: NEURONS NOT INCLUDED ACQUIRES GRAND DUCHY OF LUXEMBOURG March 31, 2015 13:45
FOR IMMEDIATE RELEASE: NEURONS NOT INCLUDED ACQUIRES GRAND DUCHY OF LUXEMBOURG
April 1, 2015
Neurons Not Included, a ecommerce concern based in Allen Texas, today announced that it has acquired the assets of the Grand Duchy of Luxembourg (http://europa.eu/about-eu/countries/member-countries/luxembourg/index_en.htm) in a cash and stock transaction. Details of the financial structure of the transaction were not released.
Cynthia Green, Co-managing Partner of Neurons Not Included, announced the transaction today in a ceremony in Luxembourg's Parliament Square. She was joined by Pierre Mentuer, former Prime Minister of Luxembourg and newly named Chief Operating Officer of the newly-established Luxembourg Operating Unit of Neurons Not Included, and Felicia Unwahr, former Foreign Minister and now Executive Director of all European operations of Neurons Not Included.
As part of the transaction, certain cash-generating assets currently held in trust by the Grand Duchy of Luxembourg will be sold to the Republic of France. These assets comprise the majority of all Luxembourgs' proprietary superheated methane processing capabilities. Both Neurons Not included and the government of France believe this capability will significantly expand the French superheated methane market position.
Ms. Green said, "We are very pleased to add the Grand Duchy of Luxembourg to the Neurons Not Included family. We believe the synergies generated by combining our internet operations with the governmental structure of the Duchy will result in increased competition across the EU, as well as significant operational efficiencies for our both our ecommerce platforms."
Mr. Menteur stated, "We are excited about the opportunity to work closely with Neurons Not Included. We have always held their ecommerce products in high regard, and this transaction will open up new possibilities for NNI and the citizens of Luxembourg." Ms. Unwahr added, "This transaction has been under consideration for some time, and we wish to thank the staff at Neurons Not Included for their professionalism and attention to detail through the negotiation period. Without their cooperation, many important components of the transaction could not have been realized."
While subject to EU regulatory approval, both NNI and Luxembourg believe that such approval will be rapidly forthcoming. More details of the transaction will be announced in the coming weeks.
For further information, please contact:
Director of External Affairs
Neurons Not Included