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05.11.2009 – 07:07

GLV Inc.

GLV Reduces From 90% to 75% the Minimum Acceptance Threshold for Shares to be Tendered Into its Voluntary Takeover Bid for the Shares of Christ Water Technology

Montreal, November 5 (ots/PRNewswire)

GLV Inc. ("GLV"; ticker
symbols GLV.A, GLV.B / TSX) announces an amendment to the conditions
of its voluntary takeover bid (the "Offer"), launched on October 13,
2009, to acquire up to 100% of the shares of Christ Water Technology
AG ("CWT"). Pursuant to this amendment, the minimum acceptance
threshold for shares to be tendered into the Offer has been reduced
from 90% to 75% of CWT's outstanding shares. The amendment to the
required minimum threshold condition has been approved by the
Austrian Takeover Commission.
GLV considers the offered price of (euro)3.35 per CWT share to
be fair and reasonable considering the restructuring and market
challenges faced by CWT. As communicated to the Austrian Takeover
Commission, GLV's management hereby confirms that the offered price
as well as the tender period will in no way be altered. CWT's
shareholders have until November 17, 4:00 p.m. (Vienna time) to
tender their shares into the Offer. After that date, the Offer will
lapse if, notably, the 75% minimum tender threshold condition has not
been met.
CWT's largest shareholder, WAB Privatstiftung, which holds
approximately 27% of the shares of CWT, has already tendered its
shares into the Offer, as of October 15, 2009. Additionally on
October 23, 2009, the Management and Supervisory Boards of CWT issued
a statement recommending that CWT's shareholders tender their shares
into GLV's Offer.
About GLV Inc.
GLV is a leading global provider of technological solutions used
in water treatment, recycling and purification, as well as in pulp
and paper production. The Water Treatment Group (also known worldwide
as "Eimco Water Technologies") specializes in the design and
international marketing of solutions and high-performance, economical
and eco-friendly processes for the treatment and recycling of
municipal and industrial wastewater and water used in various
industrial processes. It also offers water intake screening solutions
for power stations, refineries and desalination plants. With its
extensive technological portfolio, the group is positioned to provide
comprehensive solutions for the filtration, clarification, treatment
and purification of water that will either be returned into the
environment, or be re-used in various industrial processes or for
domestic purposes. The Pulp and Paper Group specializes in the design
and global marketing of equipment and systems used in various stages
of pulp and paper production, notably chemical pulping, pulp
preparation and sheet formation and finishing. This group ranks among
the foremost players in its industry and is a recognized leader in
rebuilding, upgrading and optimization services for existing
equipment, as well as the sale of spare parts. It also stands apart
for the superior performance of several of its key products and
technologies, notably in terms of energy savings. GLV is present in
some 30 countries and has approximately 1,500 employees.

Contact:

Marc Barbeau, CA, Executive Vice-President and Chief Financial
Officer, +1-514-284-2224, courrier(at)glv.com; www.glv.com