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Michael Colaco sells 2.8 million Cavotec shares to pay USD 6.7 million to Cavotec

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Michael Colaco sells 2.8 million Cavotec shares to pay USD 6.7 million to Cavotec

The Chief Executive Officer of Cavotec SA ("Cavotec" or the "Company"), Ottonel Popesco, is pleased to announce that on 17 May 2016, Michael Colaco, the former owner of INET Airport Systems, sold 2.8m shares in Cavotec to pay USD 6.7m pursuant to the court judgment entered in favour of Cavotec in a lawsuit in the Orange County Superior Court in California, USA.
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Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions that enable the decarbonisation of ports and industrial applications. Backed by more than 40 years of experience, we provide systems that ensure safe, efficient and sustainable operations for a wide variety of customers and applications worldwide.

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