Brief: AcadeMedia Acquires Swedish Education Group For SEK 185 Mln

AcadeMedia AB

06/11/2020 07:13

Nov 6 (Reuters) - AcadeMedia AB  ACADE.ST :
    * ACADEMEDIA STRENGTHEN ITS POSITION THROUGH ACQUISITION OF
SWEDISH EDUCATION GROUP FOR SEK 185 MILLION
    * HAS TODAY ENTERED INTO AN AGREEMENT TO ACQUIRE ALL SHARES
IN RE
SKOLOR AB
    * TRANSACTION HAS A CASH AND DEBT-FREE VALUE (ENTERPRISE
VALUE) OF
SEK 185 MILLION
    * ACQUISITION IS CONDITIONAL UPON COMPETITION AUTHORITY'S
APPROVAL
AND IS EXPECTED TO BE COMPLETED AT END OF Q2 OF FISCAL YEAR
2020/21
    * PURCHASE PRICE FOR SWEDISH EDUCATION GROUP AB AMOUNTS TO
SEK 215
MILLION
    * TRANSACTION HAS A CASH AND DEBT-FREE VALUE (ENTERPRISE
VALUE) OF
SEK 185 MILLION
    * ACQUISITION IS FINANCED THROUGH EXISTING FUNDS.
    * SELLER IS REF IV LUXEMBOURG S.À R.L., AN AFFILIATE OF
RIVERSIDE
COMPANY.
    * ACADEMEDIA BELIEVE THAT THERE IS POTENTIAL TO DEVELOP AND
COORDINATE BUSINESS AND THEREBY IMPROVE EBIT WITH APPROXIMATELY
SEK 5 MILLION
    * SWEDISH EDUCATION GROUP AB IS EXPECTED TO HAVE A POSITIVE
DEVELOPMENT WITH INCREASING NUMBER OF STUDENTS AND IMPROVED EBIT
DURING FISCAL YEAR 2020/21

Source text for Eikon:  ID:nWkr6sn6p7 
Further company coverage:  ACADE.ST 

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