On December 28, IQ International AG, a Swiss multinational focused on the production of sustainable technologies, announced the signing of the acquisition agreement of the entire share package of Tecnova S.A. The transaction is still awaiting the approval of the Ecuadorian antitrust authority. The amount of the transaction has not been disclosed.

Tecnova S.A, a leading company in the Ecuadorian market, founded in Guayaquil in 1962, is recognized for being a manufacturer and distributor of Bosch batteries in Ecuador and other countries in the region.

The selling shareholders were represented by Carmigniani Pérez Abogados and its M&A team, led by Pedro M. Pérez as responsible partner, with the relevant support of associate Daniel Dziouba.