May 5 (Reuters) - Emefcy Group Ltd EMC.AX :
* Emecfy announces intention to merge with RWL Water
* Signed a letter of intent with respect to a proposed business combination with RWL Water
* Anticipated that proposed merger would substantially accelerate Emefcy's deployment into china and other key markets
* Parties have agreed to an exclusive negotiation period extending through 31 May 2017 in relation to proposed transaction
* LoI contemplates that lauder will subscribe for US$20 million in additional emefcy shares at an expected price of A$0.85 per share
* Following these transactions, and on an undiluted basis, current Emefcy shareholders would own approximately 66% of merged group
* Bob Wowk would be appointed chief financial officer of Fluence
* Emefcy proposes to merge with rwl water in an all-stock transaction, and issue 100.5 million new emefcy shares to rwl water's owner
* Subject to completion of transaction, parties expect that Henry Charrabé would become CEO and COO of Fluence Source text for Eikon: Further company coverage: EMC (NYSE:EMC).AX