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Gaensel Energy Group, Inc., (OTC: GEGR), signed the final agreement with Art & Luxury SARL, a Luxembourg based Investment firm, https://artluxury.eu/, whereas Gaensel Energy sold its interest in: Filiman SRL; Flowers Trade SRL; Flowers Lab SRL; Forum SRL; Itacar SRL; Italpose SRL; Suite 110 SRL; Zuc Energy SRL and Bioenzyme SRL to Art & Luxury SARL for Twelve Million USD ($12,000,000).
On Monday, GEGR stock fell 12.50% to $0.0280 with 181K shares, compared to its average volume of 515K shares. The stock moved within a range of $0.0230 – 0.0284 after opening trade at $0.0241.
As a matter of fact, the company was in the news cycle yesterday after it made an announcement with regard to a corporate update. Gaensel Energy Group announced yesterday that it had been successful in inking the final agreement with the Luxembourg-based investment firm Art & Luxury SRL.
However, that was not all. In this regard, it should also be noted that as part of the agreement, Gaensel Energy Group also sold interests in some assets to Art & Luxury for the sum of $12 million. The company sold off its interest in assets like Zuc Energy SRL, Flowers Trade SRL, Italpose SRL, Filiman SRL, Bioenzyme SRL, Flowers Lab SRL, Suite 110 SRL, Itacar SRL, and Forum SRL. It was a major new development for the company and one that could help Gaensel Energy Group in using the cash infusion to make acquisitions in other sectors in the near future. That is something that investors could do well to keep track of at this point.
The President of Art & Luxury Antonio Franchino spoke about the latest transaction as well. He noted that the acquisition of the interests from Gaensel Energy Group was actually the first of many other potential transactions between the two companies. He went on to note that the fund is going to build up a relationship with Gaensel Energy Group by way of which the two could work towards developing investments in North America and Europe.