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50GP - Croda International News Story

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Sector
Basic Materials
Size
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 1816

BRIEF-Croda Buys Avanti Polar Lipids For $185 Mln

Mon 6th July, 2020 2:25pm
July 6 (Reuters) - Croda International PLC  CRDA.L :
    * CRODA INTERNATIONAL  - CRODA ACQUISITION OF AVANTI POLAR LIPIDS, INC
    * CRODA - PROPOSED DEAL FOR AN INITIAL CONSIDERATION OF $185M ON A DEBT AND
CASH-FREE BASIS,
    * CRODA - ON COMPLETION, AVANTI WILL CONTINUE TO OPERATE UNDER ITS EXISTING
BRAND,
LED BY CURRENT MANAGEMENT TEAM
    * CRODA - AVANTI WILL BECOME A PART OF CRODA'S LIFE SCIENCES SECTOR
    * CRODA - ACQUISITION IS BEING FINANCED BY A THREE-YEAR TERM LOAN,
MAINTAINING
CRODA'S STRONG LIQUIDITY
    * CRODA - PROPOSED DEAL HAS ADDITIONAL EARNOUT OF UP TO $75M BASED ON
NEAR-TERM
COMMERCIAL OPPORTUNITIES USING AVANTI'S LIPID-BASED SOLUTIONS

Source text for Eikon:  ID:nRSF1554Sa 
Further company coverage:  CRDA.L 

 ((Reuters.Briefs@thomsonreuters.com;))
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