LBT Innovations Limited (ASX:LBT) entered into binding agreement to acquire remaining 50% stake in Clever Culture Systems AG from Hettich Holding Beteiligungs- und Verwaltungs GmbH for AUD 4 million on December 29, 2021. The consideration consists of AUD 1 million in cash, 30.66 million shares and 8 million options at AUD 0.25 per share. LBT Innovations will also acquire AUD 17.3 million shareholders loan of Hettich Holding Beteiligungs- und Verwaltungs GmbH.

The transaction is expected to close by December 31, 2021.