04:00 PM EST - CVTech Group Inc. : said that it has signed a letter of intent to purchase all of the issued and outstanding shares of a North American company, which provides electrical services to the utility and industrial markets, for about $60 million. Due to the nature of the proposed transaction, the company's name will only be disclosed upon closing. CVTech said it will pay $48 million in cash, and the balance $12 million in common shares of the company. CVTech Group Inc.
shares T.CVT are trading up $0.12 at $0.13.
